The 2007
SPE/AAPG/WPC/SPEE Reserves and Resources Classification, Definitions and
Guidelines. Defining the Standard!
Etherington, John R.1,
Ronald Harrell2 (1) PRA International Ltd,
In late 2004, a focused effort was begun
to update the 1997 SPE/WPC Petroleum Reserves Definitions and the 2000
SPE/WPC/AAPG Petroleum Resources Classification and Definitions. The evolution
of the industry, driven by advancements in technology, the international
expansion of the E&P sector and the increasing role of unconventional
resources in meeting global energy needs, drove the requirement to update what
had served the industry well for the last 15 years. The 2007 system builds on
previous industry efforts to provide sufficient guidance to achieve a high
level of consistency in estimating reserves and resource quantities; it
incorporates best practices identified in other international petroleum and
minerals classification systems. It recommends a rigorous approach based on
applying a series of defined projects to hydrocarbon-bearing reservoirs.
Resource classes are defined according to the maturity of the applied projects
expressed as qualitatively or quantitatively as the chance of reach producing
status. Within each resource class, the relative uncertainty
in the estimated quantities that may be recovered by each project under those
conditions forecast to exist during its implementation are denoted by
assignment to categories. Assessments may be conducted using deterministic
and/or probabilistic methods. In order to satisfy requirements of the full
range of industry stakeholders, the 2007 system introduces additional
classification and categorization terminology. The resulting document is a set
of technical guidelines that can be adapted by oil and gas companies to better
manage their business; moreover, it forms a standard that can be referenced by
government agencies in defining reporting requirements.
AAPG Search and Discover Article #90063©2007 AAPG Annual Convention, Long Beach, California