Updated SPE-PRMS Classification. What's new?
Petroleum Resources Management System by SPE (PRMS) published in 2007 is widely used all over the world to assess resources of petroleum properties. Its definitions and guidelines apply to any quantities of oil and gas, namely: discovered and undiscovered, both in “conventional” and “unconventional” accumulations, recoverable and unrecoverable, and also produced as on the specific date. Project related to their exploration, assessment or development is considered as a basis for resource assessment in any stages of fields and pools studies and development. The system is based on resources classification in accordance with a project chances to achieve a commercial result, and also categorization of undiscovered recoverable resources depending on their probability of recovery. Economic assessment of resources of each Project is based on production forecasts and Net Cash Flow associated with them. The updated version of SPE-PRMS system was published in July 2018; while maintaining all the basic principles and approaches, the original wordings were duly clarified and edited, and some new ones were added with particular focus on commercial aspects. Definitions of basic terms and guidelines for their application were also considerable broadened and supplemented. The paper briefly presents both the original principles and concepts of SPE-PRMS system and changes made in its updated version.