About This Course

This course will present the elements of hydrocarbon resource classification framework in accordance with the Petroleum Resources Management System (PRMS). The fundamental difference between “Classification” based on their probabilities of becoming commercial and “Categorization” based on their relative certainty of being produced will be illustrated. Special focus will be on “Reserves” and detailed guidelines for classifying a hydrocarbon resource as “Reserves” will be explained by means of industry examples. SEC proved reserves requirements will also be discussed. Application of principles with numerous discussion questions will be illustrated throughout the course

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