Resources and Reserves
- Overview of Resource Classification System in view of SPE PRMS latest guidelines
- Deterministic Reserves Estimation Methods
- Recovery Factors
Day one of this course will begin with an introduction and a basic overview of Resource Classification System in view of SPE PRMS latest guidelines. Participants will lstart discussing the traditional reserves estimation methods; analogy and volumetric methods will be covered in day 1.
Reserves Estimation and Link to Project Economics
- Deterministic Reserves Estimation Methods (continued)
- Material Balance Analysis
- Classical Decline Curve Analysis
- Advanced Decline Curve Analysis
- Reserves: Link to Project Economics and Valuation
On this day participants will continue discussing the reserves estimation methods. Material Balance Analysis and Decline Curve Analysis will be covered in day 2. The participants will also learn how project economics are linked to reserves.
Deterministic Field Example
- Deterministic Analysis on an Example Field
- Basics of Descriptive Statistics
On day 3 participants will go through deterministic resource and reserves analysis and estimation on an example field. Basics of descriptive statististics will also be covered.
Statistics, Probability, and Uncertainty
- Basic Probability and Operations with Probabilities
- Probability Distributions
- Expected value
- Probailistic Reserves Estimation
On this day participants will learn about probability and uncertainty that are associated with reserves. Day four will also cover the expected value of a reserve and the decision tree.
Probabilistic Reserve Estimation
- Probabilistic Reserves Estimation (continued)
- Monte Carlo Simulation
The last day of the course will cover simulation and probabilistic reserve estimations.
Individuals with both geoscience and engineering backgrounds.
A basic knowledge of reservoir engineering and petroleum geology, along with an Engineering or GeoSciences degree.