Progress Toward Achieving a Common Global Framework for Classifying Fossil Energy & Mineral Resources through the Development of the UN Framework Classification on Fossil Energy & Mineral Resources

Clark C. Tallkington¹ and Kenneth Mallon^2
1United Nations Economic Commission for Europe, Geneva, Switzerland
²Petroleum Geology Consultant, Houston, TX

Accurate and consistent estimates of fossil energy and mineral resources are the foundation for effective resources management at the local, national and global levels and within corporate and governmental institutional frameworks. This has resulted in a range of classification systems worldwide that have been developed to meet the needs arising from specific circumstances. However, they are by their very nature not designed to serve the needs that arise in a vertically and horizontally integrated and globalized economy. As a result there is growing interest in the development of common and universally applicable standards for energy and mineral resources. The UN Framework Classification for Fossil Energy & Mineral Resources (UNFC) provides an elegant solution to meet this demand for a common code. It can be adopted or adapted directly into a classification framework, or, more importantly, it can serve as a common point of reference across multiple systems. The benefits accrue to the full range of users including sponsors, preparers and users of international energy studies, financial reporting, government resources management, and corporate business processes. The potential benefits have led to the endorsement of the UNFC by the UN Economic & Social Council for worldwide application, which is now under the direction of the UN Economic Commission for Europe. The initiative is widely supported and well coordinated with the efforts of the AAPG, SPE, SPEE and WPC In this paper, the authors will provide background information on the UNFC and the ongoing process to develop a common global code.

AAPG Search and Discovery Article #90072 © 2007 AAPG and AAPG European Region Conference, Athens, Greece