Introduction to SPE's Petroleum Resources Management System and Applications Guidelines Document

DEDICATED SESSION RESERVES - Petroleum Resources Management System (PRMS) is becoming the ‘de facto’ industry standard for the definitions and classification of petroleum resources. PRMS was published in April 2007 and is jointly sponsored by the Society of Petroleum Engineers (SPE), the World Petroleum Council (WPC), the American Association of Petroleum Geologists (AAPG) and the Society of Petroleum Evaluation Engineers (SPEE); PRMS was subsequently endorsed by the Society of Exploration Geophysicists (SEG). The original resource evaluation Guidelines were published in 2001. Under the umbrella of the same societies, led by a subcommittee of the SPE Oil and Gas Reserves Committee (OGRC), the updated document entitled “Guidelines for the Application of PRMS” (PRMS-AG) was published in November 2011. This volume has additional chapters and many examples which will assist the reserves practitioners with much needed guidance. This talk will be the first to introduce the reserves session at EAGE 2013.