Name: Petroleum Resources & Reserves Management Training Course
Rating: 4.7 (1076 reviews)

Scheduled Dates

21 - 25 Dec 2026

London - UK

$5,950

19 - 23 Jul 2027

London - UK

$5,950

20 - 24 Dec 2027

London - UK

$5,950

Why Choose this Training Course?

This Petroleum Resources & Reserves Management training course develops the management capabilities required to maintain credible resource and reserves information and use it effectively in petroleum portfolio decisions. Resource estimates alone do not determine investment priorities. Organisations also need disciplined processes for assessing maturity, resolving contingencies, governing classification changes and ensuring that technical information remains traceable, consistent and suitable for management decision-making.

Using the SPE Petroleum Resources Management System (PRMS) as the principal framework, this training course examines how petroleum resources progress from exploration opportunities towards development, reserves and production. Participants will consider how corporate resource inventories should be structured, how maturation barriers can be managed and how evidence-based decision gates support project progression. The training course also addresses annual reserves management, reconciliation, portfolio prioritisation, technical assurance and governance. Participants will develop a stronger ability to connect subsurface and commercial information with investment priorities, management oversight and executive reporting.

This Petroleum Resources & Reserves Management training course will highlight:

Translating PRMS principles into effective corporate resource-management practices
Establishing robust resource inventories with clear ownership and traceability
Managing contingencies and progressing opportunities through defined maturity gates
Governing reserves bookings, classifications, revisions and annual reconciliation
Supporting portfolio and investment decisions through structured resource evaluation
Improving technical assurance, governance and management visibility of resources and reserves

What are the Goals?

By the end of this training course, participants will be able to:

Interpret PRMS classifications, maturity and commerciality within a management context.
Structure and govern corporate petroleum resource and reserves inventories.
Identify contingencies and establish practical pathways for resource maturation.
Evaluate reserves changes and manage annual reconciliation processes.
Compare petroleum opportunities using maturity, economics, uncertainty, risk and strategic considerations.
Establish effective governance, assurance and reporting arrangements for resources and reserves.

Who is this Training Course for?

This training course is intended for professionals who contribute to the classification, maturation, governance, assurance or commercial evaluation of petroleum resources and reserves. It is particularly relevant to:

Resources and Reserves Managers
Asset Managers and Asset Team Leaders
Exploration and Development Managers
Reservoir Engineering Managers
Petroleum Engineering Managers
Reserves Coordinators
Petroleum Economists
Portfolio and Corporate Planning Professionals
Business and Investment Planning Professionals
Commercial and Joint Venture Professionals
Technical Assurance Specialists
Government Petroleum and Regulatory Professionals
NOC Resources and Reserves Committee Members

How will this Training Course be Presented?

This training course uses a practical, decision-focused approach to petroleum resources and reserves management. Participants will work through portfolio cases, resource-maturation assessments, contingency analysis, decision-gate scenarios and reserves reconciliation exercises. Management dashboards, governance reviews and portfolio prioritisation activities will demonstrate how resource information supports investment and business decisions. An integrated company case will develop progressively throughout the training course, while detailed subsurface calculations are kept to a minimum.

Organisational Impact

Organisations will benefit from:

Greater consistency and control across corporate resources and reserves information
Improved visibility of resource maturity and barriers to commercial progression
Clearer accountability for contingencies, evidence and project maturation
More reliable reserves movements, reconciliation and supporting documentation
Better integration of technical resource information with portfolio and capital decisions
Stronger governance, assurance and executive oversight of petroleum resources

Personal Impact

Participants will develop:

Greater confidence in interpreting PRMS-based resource information
Improved ability to assess project maturity and commercial progression
Stronger skills in identifying and managing resource contingencies
Practical capability in reserves reconciliation and movement analysis
Improved judgement when comparing competing petroleum opportunities
Greater confidence in communicating resource status, uncertainty and priorities to management

Daily Agenda

Day 1: Petroleum Resource Inventory & Management Framework

PRMS as a framework for corporate resources management
Mapping prospective resources, contingent resources, reserves and production across the asset lifecycle
Project maturity, commerciality and uncertainty from a management perspective
Designing the corporate resource inventory: ownership, data sources, evidence and update responsibilities
Establishing data lineage, change control and accountability across multidisciplinary teams

Day 2: Resource Maturation & Project Decision Gates

Moving opportunities from exploration through discovery, appraisal and development
Managing PRMS contingent-resource maturity and unresolved contingencies
Technical, commercial, infrastructure, market, regulatory and organisational barriers
Building a structured contingency register with clear ownership
Designing project decision gates, evidence requirements and maturation milestones

Day 3: Corporate Reserves Management & Reconciliation

Designing the annual resources and reserves management cycle
Governance of new bookings, maturation and reclassification
Production, discoveries, extensions, technical revisions and development changes
Improved recovery, economic effects, acquisitions and divestments
Preparing and interpreting reserves reconciliation and movement attribution

Day 4: Resource Portfolio Prioritisation & Investment Decisions

Segmenting the portfolio by maturity, opportunity type and strategic purpose
Interpreting risked and unrisked resource information for management decisions
Integrating resource potential with economics, timing, risk and strategic fit
Comparing appraisal, development and brownfield opportunities
Prioritising projects under capital, organisational and schedule constraints

Day 5: Resources Governance, Assurance & Executive Reporting

Designing resources and reserves governance
Roles of asset teams, corporate reserves functions and management committees
Responsibility and approval matrices, documentation and change control
Technical peer review, independent evaluation and audit readiness
Designing executive dashboards for reserves, maturation, contingencies and decisions

Certificate

Upon successful completion of this training course, delegates will be awarded an official PetroKnowledge Certificate of Completion, signed by the course facilitator. The certificate confirms successful participation and records the total learning hours completed.
Continuing Professional Education credits (CPE): In accordance with the standards of the National Registry of CPE Sponsors, one CPE credit is granted per 50 minutes of attendance.

Accreditation

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Related Categories

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Petroleum Resources & Reserves Management

Strengthening PRMS-Based Resource Governance, Maturation & Portfolio Assurance