Drilling and Reservoir EngineeringReserves Estimation and Resource Classification
Reserves are a company's main asset on paper, and a booking that cannot be defended to auditors, lenders or a regulator can damage credibility far beyond the barrels involved. The Petroleum Resources Management System gives the framework; applying it consistently takes judgement. Delegates start with PRMS definitions: discovered and undiscovered, reserves, contingent and prospective resources, and the 1P, 2P and 3P categories. Deterministic and probabilistic methods are compared, and estimates are made by analogy, volumetrics, material balance and simulation. Commerciality, project maturity sub classes and reasonable certainty are explored through case studies. The final sessions cover aggregation, year on year reconciliation, reporting under listing rules and audit expectations. Delegates leave able to classify volumes correctly and produce a defensible reserves statement.
Course objectives
- Apply PRMS definitions to classify reserves, contingent and prospective resources
- Assign 1P, 2P and 3P categories consistently
- Compare deterministic and probabilistic estimation methods
- Estimate volumes by analogy, volumetrics, material balance and simulation
- Test commerciality and project maturity against classification criteria
- Aggregate estimates across fields correctly
- Reconcile reserves changes from one year to the next
- Prepare a reserves report suitable for audit and disclosure
Who should attend
- Reservoir engineers responsible for bookings
- Reserves coordinators and auditors
- Geoscientists estimating resources
- Finance and investor relations staff
- Regulators and petroleum agency officials
Course outline
- 01Why reserves matter
- 02PRMS framework and definitions
- 03Categories and uncertainty
- 04Deterministic and probabilistic approaches
- 05Estimation methods
- 06Commerciality and project maturity
- 07Aggregation
- 08Reconciliation and reporting
- 09Audit and governance
Scheduled sessions
| Dates | Venue | Format | Price | Register |
|---|---|---|---|---|
| 12 to 16 October 2026 | Mbabane, Eswatini | Classroom | R19,950 per delegate | |
| 26 to 30 October 2026 | Pretoria, South Africa | Classroom | R19,950 per delegate | |
| 8 to 12 February 2027 | Online | Online | R8,500 per delegate | |
| 1 to 5 March 2027 | Johannesburg, South Africa | Classroom | R19,950 per delegate | |
| 8 to 12 March 2027 | Dar es Salaam, Tanzania | Classroom | USD 1,325 per delegate | |
| 22 to 26 March 2027 | Cape Town, South Africa | Classroom | R19,950 per delegate |
Reserves Estimation and Resource Classification
From R8,500