The Oil and Gas Reserves Committee (OGRC), which is responsible for programs involving oil and gas reserves and resources matters, has been actively promoting understanding of the updated Petroleum Resources Management System.
Since the 2018 publication of the revised document, the OGRC has developed and held workshops, training courses, and other resources to assist the industry in understanding and interpreting PRMS principles. The PRMS is a system developed for consistent and reliable definition, classification, and estimation of hydrocarbon resources.
The Reserves Auditing Standards outlines a standard approach to estimating and auditing reserves. The document was revised to align with the 2018 PRMS and was approved by the SPE Board of Directors in June 2019.
The committee is developing Best Practice Guidelines for Reporting, a set of examples that address and describe key issues in PRMS, and a revised Application Guidelines. Materials will be released as they are finalized. Targeted project completion is by end of the year 2020.
Reserves workshops that included special sessions on the 2018 PRMS update were held in London, Houston, Abu Dhabi, Calgary, and Perth. Eleven in-person training courses took place in 10 countries and events are in the planning stages for Kazakhstan and Brazil. Dan DiLuzio has begun his Distinguished Lecturer tour presenting “Petroleum Resources Management System: Maintaining the Global Standard and Addressing Key Concerns.” For those in more remote locations, three online courses on various aspects of the PRMS have been added to SPE’s online education portal and two additional courses are in production.
In addition, the OGRC commissioned translations of the 2018 PRMS into Chinese, Russian, and Spanish. The Russian and Spanish translations are complete and available while the Chinese translation is planned for completion by the second quarter of 2020.
Finally, the OGRC revised its governance model, establishing the policies and practices by which they fulfill their roles and responsibilities. Apart from edits to improve clarity, most of the revisions replace prescriptive directions in favor of general guidance. The board approved the revisions in June 2019.
For a complete list of PRMS documentation, visit www.spe.org/en/industry/reserves. For a searchable list of workshops and training courses, visit www.spe.org/events/calendar/. For more information on the Oil and Gas Reserves Committee, visit www.spe.org/en/industry/ogrc.