SPE Live Podcast: OGRC Advancing Global Consistency in Reserves Reporting Through PRMS Training

The Reserves Education Subcommittee (RES) within the Oil and Gas Reserves Committee (OGRC) is a global group of subject-matter experts advancing PRMS education. The RES were recently mandated by the OGRC to update, design, and prepare a reserves education framework in modular presentations. The initiative resulted in the development of thirteen (13) modular presentations encompassing core PRMS principles, reserves classification, maturity distinctions, evaluation methodologies, commerciality/economic criteria, and common areas of misinterpretation observed in industry. The modules form the “PRMS Training Master Slides” and are to be taught by OGRC approved instructors and offer a practical and interactive approach as a third trilateral source on PRMS knowledge and education supported by OGRC. The “PRMS Training Master Slides” are standardized, committee-endorsed training for global dissemination across operators, consultants, educators, and regulators. It is anticipated they will perpetually improve global alignment on reserves estimation and classification, provide a clearer differentiation between resources and reserves, and finally a more consistent understanding of commercial maturity thresholds. These modular presentations will complement the much-needed training gap identified by OGRC. Moderated by Doug Peck, Head of Reserves at Woodside Speaker: Syed Hasan, Chair OGRC Reserves Education Subcommittee