SPE Online Education
Petroleum Resources Management System (PRMS): Maintaining the Global Standard and Addressing Key Concerns
Recorded On: 06/23/2020
The SPE Oil and Gas Reserves Committee together with the six PRMS Sponsor Societies (WPC, AAPG, SPEE, SEG, SPWLA and EAGE) completed an update to the 2007 Petroleum Resources Management System (PRMS) in June of 2018. The PRMS is the industry’s recognised standard for resources classification and management with the majority of the earth’s resources citing linkage to the PRMS.
The presentation will recall the reasons why Resource definitions were needed over 100 years ago, SPE’s involvement from 1962 to the current PRMS that is recognized as the globally referenced language of Reserves and Resource evaluation. The fundamentals of the PRMS, its key principles of the resources classification framework and relation to a project are reviewed. A few of the commonly encountered issues in resource evaluations are presented and, in closing, these hot topic areas are discussed with examples to provide clarity in everyday application.
All content contained within this webinar is copyrighted by Dan DiLuzio and its use and/or reproduction outside the portal requires express permission from Dan DiLuzio.
Reserves Manager, Newfield Exploration
Daniel DiLuzio is Reserves Manager for Newfield Exploration. Dan has 34 years of global industry experience with Shell International, Total E&P and Encana in various engineering and management roles in: development, operations, country management, business development, reserves, and reservoir engineering. Dan holds BS and MS degrees in Petroleum Engineering from Louisiana State University. Dan is a member, and prior chair, of the SPE Oil and Gas Reserves Committee (OGRC) since 2011 and was chair of the PRMS Update Sub-Committee delivering the PRMS 2018. He has served as SPE’s representative to the United Nations on classification of resources (UNFC), and various SPE committees for resource evaluation ATWs. He is also a SPEE member and a registered engineer in the state of Texas.
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