The Society of Petroleum Engineers (SPE) has given the CO2 Storage Resources Committee (CSRC) the responsibility of developing and maintaining the CO2 Storage Resources Management System (SRMS) and SRMS Guidelines. The SRMS, first published in 2017, is a system developed for consistent and reliable classification and categorization of CO2 storage quantities. The SRMS classification is aligned with that of the Petroleum Resources Management System (PRMS).
The 2017 SRMS is sponsored by the World Petroleum Council (WPC), American Association of Petroleum Geologists (AAPG), Society of Petroleum Evaluation Engineers (SPEE), Society of Petrophysicists and Well Log Analysts (SPWLA), European Association of Geoscientists and Engineers (EAGE), and the Society of Exploration Geophysicists (SEG).
The current SRMS version (SRMS 2017) can be obtained here, along with other related documents.
The SRMS framework classifies and categorizes resources along two axes to organize projects and corresponding resources according to a range of technical uncertainty and chance of commerciality as shown in the figure.
The technical estimation of CO2 storage quantities involves the assessment of quantities and values that have an inherent degree of uncertainty. These quantities are associated with exploration, appraisal, and development projects at various stages of design and implementation.
The Total Storage Resources are divided into Discovered and Undiscovered Storage Resources based on project maturity. The Discovered Storage Resources have further subdivisions into Contingent Storage Resources and Capacity. Capacity is only applicable to volumes associated to commercial projects as defined in the SRMS.
Estimated recoverable resources associated with projects are then categorized by the level of technical uncertainty from low uncertainty (low estimated quantities) to high uncertainty (high estimated quantities).
The CSRC is committed to ensuring a relevant resource framework as the CO2 storage industry evolves, and as such has commenced an update to the SRMS. The draft update has incorporated comments from stakeholders and sponsoring societies such as the inclusion of CO2 EOR in its scope. This draft is now open for public comment.
Please provide feedback to the draft SRMS Update using the instructions provided before 1 October 2024 for consideration by the CSRC.