Pitfalls, Wrong Turns and Roadblocks from the Way to a Petroleum Reserve Standard: Comparisons of the SEC and SPE\WPC\AAPG\SPEE Reserve and Resource Standards

Jeffrey B. Aldrich, Andrew Dippenaar, and Julio Poquioma
PetroSA, Cape Town, South Africa

Today, as the world intensifies its search for hydrocarbons at a time that the industry is experience severe staff shortages there is an increasing need for companies to educate both management and staff on proper reserve auditing methods. While guidelines become every more detailed due to advances in technology, companies often find the fundamental skills needed lacking. At the same time different methodologies compete to become the industry standard for certifying reserves and resources. By examining a few basic issues and real life cases we contrast the two dominant standards and draw lessons for executives and staff alike.

AAPG International Conference and Exhibition, Cape Town, South Africa 2008 © AAPG Search and Discovery