IOSC on Fundamentals of Petroleum Reserves under PRMS 2018 

Mr. Victor Alexei Huerta Quiñones



Instructor

Mr. Victor Alexei
Huerta Quiñones
(Universidad Nacional de Ingeniería, Lima, Peru)

Duration

6 & 7 December 2022
4:00PM-8:00PM CET
4 hours/day

Disciplines

Engineering – Reservoir Management

Level

Intermediate

Language

English

EurGeol

4 CPD points



Keywords

CASH FLOW ANALYSIS ECONOMICS PRMS RESERVOIR ENGINEERING RESERVES UNCERTAINTY RESOURCES ANALOGYY DECLINE CURVE ANALYSIS MATERIAL BALANCE EUR DECISION MAKING


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.  

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Course Description

This course allows an in-depth look at the framework, classifications, categorization and applications of 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 and discussion of some case studies to illustrate and clarify definitions. 



Course Objectives

The aim of this course is to: 

  1. Enhance background, criteria and technical skills of participants to classify, categorize and estimate reserves and resources in oil and gas assets; 
  2. Make a brief and concise review and keep up with the latest definitions and regulations of reserves and resources definitions; 
  3. Provide some guidelines and “rules of thumb” for a quick assessment of an oil and gas assets;
  4. PRMS is a powerful management tool that is widely used in the industry. 



Course Outline

The following steps in seismic data processing will be discussed:

Part I: PRMS Project Framework
  • PRMS project background
  • Major principles and key guidelines in PRMS
  • How PRMS captures risk and uncertainty
  • Assessing and reporting unconventional resources
Part II: Classification and Categorization of Reserves and 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
Part III: Overview of Reserves and Resources Estimates in Conventional and Unconventional Reservoirs
  • Well / Field Analogy Applications.
  • Volumetric Estimations
  • Material Balance Applications
  • Forecasting performance with traditional decline-curve analysis (DCA) and allied tools (Numerical Reservoir Simulation) and understand their relative strengths
  • Empirical and semi-theoretical decline models including Arps, Fetkovich’s, Stretched Exponential, Power-Law, Transient Linear Flow, and Duong.


Participants' Profile

This course is intended 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:

  • Geoscientists
  • Production Engineers
  • Reservoir Engineers


Prerequisites

Participants should have a prior knowledge of basic concept of reservoir engineering, reservoir characterization and reservoir management.



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 19 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.





EAGE supports its members and the Geoscience community in general by offering a 35% discount on the regular prices for our Interactive online short courses during these difficult times.

Registration Fees

Registered and Paid Until 29 November 2022 From 30 November 2022
Education Package1 Credit1 Credit
EAGE Member Price $ 195 $ 245
Non-Member Price $ 275 $ 325
*Non-Member price for this product does include EAGE Membership




Cancellation and Changes Policy

Registration fees will be refunded as follows:
  • Cancellation received before 15 November 2022: Refund will be processed after the event had ended. Amount will minus an administration fee of $ 35 per person.
  • Cancellation received on or after 15 November 2022: No refund will be made. 
  • Transferring of your registration to another participant will cost  $ 35, as administration fee, plus any differences in delegate types, where applicable (for instance when changing a registration from a member to a non-member). 
  • For an overview of all EAGE Registration Terms and Conditions please click here to download.