Reserves are known as those quantities of hydrocarbon that can be commercially recoverable. The reserves estimated will dictate all phases of the development of that particular field and Colossus Group understands the challenges that most E&P companies will encountered in the process of estimating reserves such as:
- Reservoir characteristics of conventional vs. tight/unconventional
- Conventional methods of estimating reserves
- Handling off uncertainties due to the reliable geologic and engineering data available at the time of interpretation, according to regulatory bodies.
- Methods used for tight/unconventional reserves estimate
Image Source: Guidelines for Application of the Petroleum Resources Management Systemblog comments powered by Disqus