• Upon completion of this course, participants will be able to:
• State the essential elements of PRMS and relate them to the petroleum business
• Place resources into appropriate classifications
• Place resources within a given classification into appropriate categories
• Promote resources from classes less certain of ultimate commerciality to classes with greater certainty
• Locate important definitions and guidance in the PRMS document

• Geoscientists
• Reservoir Engineers
• Production Engineers
• Petroleum Engineers

Day 1

• Resources and Reserves
• Overview of Resource Classification System in view of SPE PRMS latest guidelines
• Deterministic Reserves Estimation Methods
• Analogy
• Volumetric
• Recovery Factors

Day 2

• Reserves Estimation and Link to Project Economics
• Material Balance Analysis
• Classical Decline Curve Analysis
• Reserves: Link to Project Economics and Valuation

Day 3

• Deterministic Field Example
• Deterministic Analysis on an Example Field
• Basics of Descriptive Statistics

Day 4

• Statistics, Probability, and Uncertainty
• Basic Probability and Operations with Probabilities
• Probability Distributions
• Expected value
• Probabilistic Reserves Estimation

Day 5

• Probabilistic Reserve Estimation
• Probabilistic Reserves Estimation (continued)
• Monte Carlo Simulation

RECTUS attendance certificate will be issued to all attendees completing minimum of 80% of the total course duration