Updates and Changes to PRMS

Abstract

It has been over ten years since the initial publication of the 2007 Petroleum Resource Management System (PRMS). While well-received and applied by multiple stakeholders, developments in the industry have necessitated an update. The Society of Petroleum Engineers (SPE) Oil and Gas Reserves Committee (OGRC) has been tasked by the SPE Board to generate the updated version. Efforts began in earnest in early 2016, and the OGRC has incorporated comments from co-sponsoring societies, such as AAPG, and has recently completed the incorporation of public comments. The draft version including those comments is currently under final review by the co-sponsoring societies, with a goal to publish the updated PRMS by July, 2018. This presentation will highlight the overall review process and key components of the updated system.

AAPG Datapages/Search and Discovery Article #90323 ©2018 AAPG Annual Convention and Exhibition, Salt Lake City, Utah, May 20-23, 2018