SPE NL invites you to upcoming monthly meeting
Five years of SPE-PRMS in practice
By Eric Kreft and Raymond Godderij
Abstract:
In 2009 EBN, the Dutch non-operating state participation company, adopted the SPE-PRMS. As of that date a new PRMS project database has been developed. It currently contains more than 1000 hydrocarbon projects in the prospective, contingent and reserves categories operated by twenty E&P companies. The historic production of over 250 oil and gas fields is stored on a monthly basis. 2013 net annual production yields 190 million BOE.
Over the last five years, the database has been populated in various steps. In 2009 only projects in the reserves categories were put in, followed by projects in contingent resource categories in 2010. The database has been completed by more than 500 prospective resource projects in 2013. The prospects were generated stochastically by an in-house developed exploration simulator. EBN’s current risked resource volumes are 2.9 billion BOE.
All projects contain volume information and multiple attributes such as project development phase, project type (e.g. compression, infill, workover), reservoir type (e.g. conventional, tight, shale), a production forecast and a projected maturation schedule. The attributes allow analysis of the future maturation of hydrocarbon projects with certain specifications. It can be used to identify acceleration or stagnation in maturation. It offers the opportunity to search for and alleviate common maturation showstoppers.
During the year, project information is continuously updated from various data sources, such as Technical Committee Meetings (TCMs), workshops, investment proposals and field development plans. Actual maturation and production performance are monitored and compared to budget prognoses. Once every year the database is frozen and a reserves and resource report is recorded. Cross sections through our reserves and resource portfolio are made (e.g. maturation per license or per operator, onshore versus offshore production).
The presentation discusses the history of decisions made to populate the PRMS project database. The challenges of updating and maintaining the database are described. The benefits of PRMS combined with project attributes will be highlighted. Interesting results of EBN’s portfolio analyses of the Dutch reserves and resources will be shown.
The next SPE Netherlands Section Monthly Meeting is:
Monday 10th of March
in Hotel Carlton Ambassador,
Sophialaan 2, The Hague.
Programme:
18:00 Social Hour
19:00 Lecture by Eric Kreft and Raymond Godderij
20:00 Dinner