Petroleum Resources & Reserves Management

This day explores the application of PRMS within corporate resources management, the interpretation of resource maturity and uncertainty, and the establishment of structured resource inventories supported by ownership, data management, and accountability practices. The topics covered will include:

• Applying PRMS as a framework for corporate resources management
• Mapping prospective resources, contingent resources, reserves and production across the asset lifecycle
• Interpreting project maturity, commerciality and uncertainty from a management perspective
• Designing the corporate resource inventory, including ownership, data sources and supporting evidence
• Establishing update responsibilities across asset and corporate functions
• Strengthening data lineage, change control and multidisciplinary accountability

This day explores the progression of petroleum opportunities through successive development stages, addressing contingencies, maturation planning, barriers to advancement, and decision-gate structures that support informed project progression. The topics covered will include:

• Moving opportunities from exploration through discovery, appraisal and development
• Managing PRMS contingent-resource maturity and unresolved contingencies
• Identifying technical, commercial, infrastructure, market, regulatory and organisational barriers
• Building structured contingency registers with clear ownership and actions
• Developing resource-maturation plans and measurable milestones
• Designing project decision gates and defining evidence requirements

This day explores corporate reserves management processes, including bookings, reclassifications, reserves movements, and the interpretation of reconciliation practices used to support accurate reporting and oversight. The topics covered will include:

• Designing the annual corporate resources and reserves management cycle
• Governing new reserves bookings, maturation and resource reclassification
• Managing production, discoveries, extensions and technical revisions
• Assessing development changes, improved recovery and economic effects
• Accounting for acquisitions and divestments within reserves movements
• Preparing and interpreting reserves reconciliation and movement attribution

This day explores portfolio evaluation and prioritisation approaches that integrate maturity, risk, economics, timing, and strategic objectives to support balanced investment decisions. The topics covered will include:

• Segmenting petroleum portfolios by maturity, opportunity type and strategic purpose
• Interpreting risked and unrisked resource information for management decisions
• Integrating resource potential with economics, timing, risk and strategic fit
• Comparing appraisal, development and brownfield opportunities
• Evaluating competing opportunities within the petroleum portfolio
• Prioritising projects under capital, organisational and schedule constraints

This day explores governance structures, assurance practices, accountability frameworks, and executive reporting mechanisms that strengthen confidence in petroleum resources and reserves information. The topics covered will include:

• Designing effective resources and reserves governance arrangements
• Defining the roles of asset teams, corporate reserves functions and management committees
• Establishing responsibility and approval matrices, documentation and change control
• Applying technical peer review and independent evaluation
• Strengthening reserves assurance, traceability and audit readiness
• Designing executive dashboards for reserves, maturation, contingencies and management decisions