Reserves Evaluation
Estimation, Classification, & Reporting

Duration: 5 Days
Target Audience: Reservoir Engineers, Geologists, Petrophysicists, Reserves Auditors, Asset Managers, Investment Analysts
Delivery Mode: Classroom / Virtual with Practical Exercises and Case Studies
Level: Intermediate to Advanced

Course Overview

This course equips participants with the knowledge and skills to estimate, classify, and report oil and gas reserves according to international standards. It covers volumetric and performance-based estimation methods, reserves classification frameworks (SPE-PRMS, SEC), uncertainty analysis, and reporting best practices.

Day-by-Day Outline

Day 1 – Fundamentals of Reserves Estimation

Definition of reserves vs. resources
Categories of reserves: proved, probable, possible
Volumetric estimation fundamentals for oil and gas reservoirs
Understanding net pay, porosity, saturation, formation volume factor
Exercise: Calculate STOIIP and GIIP using volumetric methods

Day 2 – Decline Curve and Performance-Based Estimation

Types of decline curves: exponential, harmonic, hyperbolic
Applying decline analysis to production data
Material balance method basics
Estimating reserves using historical production trends
Workshop: Perform decline curve analysis on real production datasets

Day 3 – Reserves Classification Frameworks

SPE-PRMS reserves definitions and classification
SEC rules and differences from PRMS
Deterministic vs. probabilistic reserves estimation
Contingent and prospective resources
- Exercise: Classify reserves for field examples using SPE-PRMS

Day 4 – Uncertainty Analysis and Risk Assessment

Understanding uncertainty sources in reserves estimation
Monte Carlo simulation for probabilistic estimates
Generating P90, P50, and P10 reserves cases
Communicating uncertainty in reserves reports
Workshop: Build a probabilistic reserves model for a hypothetical field

Day 5 – Reserves Reporting and Compliance

Preparing reserves reports for management and investors
Auditing and reserves certification processes
Ethical considerations and regulatory compliance
Case studies of reserves downgrades and their business impact
Capstone Project: Prepare a reserves evaluation and classification report for a case study field

Expected Learning Outcomes

Apply volumetric and performance-based methods for reserves estimation
Understand and implement reserves classification systems (SPE-PRMS, SEC)
Quantify uncertainty in reserves estimates and communicate risks
Prepare reserves reports that meet industry and regulatory standards
Enhance confidence and transparency in reserves evaluations

Customizable Add-ons
Tailored content for local geology (e.g. Nile Delta, Western Desert)
Lab visit or simulation hands-on demo
Integration with economics or production courses

Special Customization for Regional NOCs

- Includes legal and fiscal case examples from MENA (Egypt, Libya, Iraq, Algeria)
- Arabic-English bilingual delivery available
- Tailored licensing round simulation exercises
- Optional site visits to local oilfields or regulatory agencies

Trainer Profile

- Senior reservoir and exploration engineers from IOCs and NOCs
- Former advisors to government ministries
- Experts in petroleum contracts and economic modeling

Certification

Participants will receive a Certificate of Completion and a performance report including assessment outcomes and instructor feedback.