Abstract
Reserve calculation must be performed according to the intended use of this information. It can be considered for the purpose of (1) defining a production strategy or (2) for computing the assets of a company.
When production strategy is the major concern, the amounts and classification of hydrocarbon reserves are to be related to the development policy of a company, and a detailed reporting of these reserves must be required.
Otherwise, if the goal is to compute the assets for the purpose of comparison or loan security, it becomes necessary to follow a common procedure that will lead to universal comprehension and confidence. This standardized process may be insufficient to meet the needs of a development program from a technical standpoint.
Concluding, in spite of a company feeling the necessity of subdividing its reserves into a detailed form to achieve the best planning of production, that same company cannot deny the importance of reporting these into a single and comprehensive classification to meet the requirements of the world.
The paper describes the detailed classification used at Petrobrás to estimate the risk involved in the development program of the Brazilian fields, and how this classification can be adjusted to provide a universal appraisal of the reserves.
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