Course Description

This course will cover wide range of knowledge in Petroleum Resources Definitions and Classification following the SPE Petroleum Resources Management System (SPE-PRMS), and addressing Risk Analysis in estimating hydrocarbon volumes highlighting tools and techniques used discussing the basics of Monte Carlo Analysis using software application.

The course will illustrate theoretical and practical classroom sessions providing presentations of Petroleum Resource Definitions, Reserves Classification and Portfolio Management. The participants will then have practical sessions using the Petroleum Resource Management System (PRMS) to classify and categorize reserves within a field blocks.  This will include an introduction to SPE-PRMS, Principles and Definitions, Project-based Resources Evaluation, Resources Classification and Categorization Guidelines, Resources Evaluation & Reporting Guidelines, Estimating Recoverable Quantities and Resources Aggregation rules. Examples of other systems will be touched such as SEC, NPDS & UNFC systems.
The course will also address basic techniques of Risk Assessment in volumes estimations linking between “geology” and “business” reviewing the four elements of Chance of Success (CoS); Reservoir, Seal, Trap and Charge. Different Risk Analysis and Risking tools will be discussed and explained during the training such as Risk Trees, Risk Matrix, Expectation Curve, Italian Flag… etc. By the end of this part, participants will know how to build the Risk Tree / Probability Tree to risk the estimates volumes and/or prize. In addition to that, Monte Carlo simulation will be elaborated as an efficient tool in managing uncertainty in volumes estimation with practical examples.

Course Objectives

By the end of this course, participant will be able to:

• Gain a comprehensive understanding of Petroleum Resources Definitions and Classification based on the SPE Petroleum Resources Management System (SPE-PRMS).
• Learn the principles and definitions of the SPE-PRMS and how it works.
• Understand the importance of defining and classifying petroleum resources for technical and business needs.
• Familiarize yourself with the historical overview and evolution of resource classification systems.
• Learn about project-based resources evaluation and the classification framework.
• Understand the different reserve categories and guidelines, including Proved, Probable, and Possible reserves.
• Gain practical skills in estimating recoverable quantities using analytical procedures and uncertainty management techniques.
• Learn the methods and guidelines for aggregating petroleum quantities.
• Explore risk assessment tools and techniques, including Risk Matrix, Italian Flag, and Chance Factor assessment.
• Understand the concept of benchmarking in risk assessment.
• Acquire knowledge and practical experience in using Monte Carlo simulation for evaluating resources, risk assessment, and aggregation.

Who Can Benefit

• Reservoir Engineers
• Geoscientists
• Development Geologist
• Geophysicists
• Field Engineers
• Production Managers
• Field Managers
• Oil Field Technical Staff
• Production Technologists
• All individuals involved in the area of reservoir engineering, welltest operations, exploration stage, development stage and production optimization.