The accurate assessment and reporting of petroleum reserves requires a comprehensive approach that integrates technical, economic, and commercial evaluations. This panel session will discuss how economic and commercial evaluations are integrated with engineering and geoscience (G&G) assessments to provide a robust, reliable, and defendable reserves estimate. As well as discuss the upcoming update to the SPE Petroleum Resource Managed System (PRMS) guidelines

Key Topics:

• Integration of economics and commerciality into reserves assessment: Understand how economic and commercial evaluation are integrated with engineering and G&G assessment to provide a comprehensive reserves estimate.
• Best practices in economic and commercial evaluation: Sharing industry best practices and case studies on economic and commercial evaluation
• Defendable reserves estimate: Examining the importance of a defendable reserves estimates, and the role of economics evaluations in supporting reserves classifications and estimates.
• Sensitivity of reserves to economic parameters: Analyzing how changes in economic parameters can impact reserves estimates and classifications, and best practices for managing these sensitivities.
• Emerging trends and technologies: Examining the impact of emerging trends and technologies, such as AI and data analytics, on reserves assessment and reporting.
• The upcoming update to the PRMS guidelines: Discuss the upcoming update to the PRMS and potential implications on reserves assessment and reporting.