Fundamentals and Practical Applications of SPE-PRMS 2018 for Conventional and Unconventional Reservoirs
Mr. Victor Alexei Huerta Quiñones
Instructor
Mr. Victor Alexei
Huerta Quiñones
(Universidad Nacional de Ingeniería, Lima, Peru)
Duration
19 -22 April
4:00PM-8:00PM CEST
4 hours/day
Disciplines
Engineering – Reservoir Management
Course format
The EAGE Interactive online short courses bring carefully selected courses of experienced instructors from industry and academia online to give participants the possibility to follow the latest education in geoscience and engineering remotely. The courses are designed to be easily digested over the course of two or three days. Participants will have the possibility to interact live with the instructor and ask questions.
Education Packages
To help you save on registration fees and better organize your learning path, we are offering Education Packages for all Interactive Online Short Courses and Online EETs. The packages are valid for a period of 12 months and give you access to 3, 5 or 10 courses of your choice.
Course description
This course allows an in-depth look at the framework, classifications, categorization and applications of SPE’s Petroleum Resources Management System (PRMS). Participants will gain a solid understanding of this valuable resources management tool, including insight into the latest updated version (PRMS 2018), as well as, the use of some indicators to reserves management.
In addition, this course will provide training in production forecasting and reserves estimation for conventional and unconventional reservoirs, by diverse methods such as field and reservoir analogy, volumetric estimations, material balance equation and rapidly applied decline models favored by the industry for routine forecasting. Recommended methodology will be based on the resolution of some case studies with different modeling techniques, under a deterministic and probabilistic approach. At the end, the course will review some insights of how to evaluate Oil & Gas assets with some recommendations for a better decision-making.
Course objectives
The aim of this course is to:
- Enhance background, criteria and technical skills of participants to classify, categorize and estimate reserves and resources in oil and gas assets;
- Make a brief and concise review and keep up with the latest definitions and regulations of reserves and resources definitions;
- Provide some guidelines and “rules of thumb” for a quick assessment of an oil and gas assets;
- Show that PRMS is a powerful management tool that is widely used in the industry.
Course outline
- PRMS project background
- Major principles and key guidelines in PRMS
- How PRMS captures risk and uncertainty
- Assessing and reporting unconventional resources
- 2018 Petroleum Resources Management System (PRMS)
- Comparison of SEC and PRMS guidelines
- Definitions of Prospective and Contingent Resources
- Reserves Categories: Proved, Probable y Possible
- Incremental vs. cumulative approach
- Indicators of Reserves Management
- Well / Field Analogy Applications.
- Volumetric Estimations
- Material Balance Applications
- Forecasting performance with decline-curve analysis (DCA) and allied tools (Numerical Reservoir Simulation) and understand their relative strengths
- Probabilistic Approach to estimate reserves and resources in “Green Fields” and exploratory Prospects
- Probabilistic DCA for “Brown Fields”
- Traditional vs Modern Decline Curve Analysis
- Empirical and semi-theoretical decline models including Arps, Fetkovich’s, Stretched Exponential, Power-Law, Transient Linear Flow, and Duong
- Diagnostic plots for flow regime identification, pressure normalization of rate data, recommended workflow for pressure-rate-time production data analysis
- Developing Probabilistic Production Type Well curves
- Applications for tight oil and gas reservoirs
- Traditional Deterministic Cash Flow Analysis: NPV, IRR, Pay Out, PIR
- Decision trees concepts and calculation of expected monetary value (EMV)
- Monte Carlo simulation in estimating profitability indicators: Expected NPV and Financial Risk estimation
Participants' profile
The course is designed for technical staff, including managers, who are or will be responsible for reserve/resource estimation, or who will be responsible for the reporting of reserves and other resources to senior levels within the company or externally. Technical disciplines may include:
- Commercial and management
- Economists
- Financial investment professionals
- Geologists
- Geophysicists
- Petrophysicists
- Reservoir engineers
Prerequisites
Participants should have a prior knowledge of basic concept of reservoir engineering, reservoir characterization, reservoir management, cash flow analysis and risk analysis.
About the instructor
Victor Alexei Huerta Quiñones
Victor Alexei Huerta Quiñones is Technical Manager for Reservoir Management Consulting (RMC), a consulting company specialized in managing oil and gas fields, as well as, their reserves and resources.
Petroleum Engineer, graduated from the National University of Engineering, Lima - Peru, and Master of Science in Energy and The Environment from the University of Calgary, Canada. He has 18 years of experience as reservoir engineer for oil and gas fields. He worked as Senior Numerical Simulation Engineer and Development Head at SAVIA PERÚ, working for subsurface projects of oil and gas fields, Blocks Z-2B and Z-6. He was also head of the Development and Production Department of PETROPERU in charge of the follow-up of the Development of Situche Central field, Block 64. He also worked for Repsol Peru as technical leader in the Development of Block 57 and for Pluspetrol Norte, in the surveillance of the heavy oil fields of Block 1AB
Part-time Associate Professor of undergraduate and postgraduate Petroleum and Natural Gas engineering school at UNI for the courses “Applied Reservoir Engineering”, “Natural Gas Engineering”, “Enhanced Oil Recovery” and “Numerical Reservoir Simulation”. He was chairman of the Society of Petroleum Engineers (SPE) Lima Section during 2014-2015. "He has published more than 20 technical papers in international conferences organized by SPE.