Reserves and Resources Assessment

Our Experts have accumulated solid Experience with Reserve assessment according to SPE PRMS guidlines.We are the ideal candidates to help clients with

• Annual Reserves and Resources reporting
• Commercial valuation of current assets and possible
• Acquisitions, Divestments and Mergers
• Portfolio Management
  
  

To eliminates the inconsistency the team follows systematic approach into the reserves management process and brings together the Production data ,Accounting system data , Well and Field Event data and current applied Technologies to a common and uniform context.

The following tasks comprise the reserves management workflow:

• Administrative tasks - definition of reserve categories, products and reasons for change.
• Data loading – move of data from the transactional workspace where production and economics data is continuously recorded and updated, into the reserves reconciliation context where the opening and closing balances are static for the reconciliation exercise.
• Reconciliation or change tracking and recording of change reasons - in the reconciliation context, for each asset, Analyst considers the difference between the opening and closing positions, and using the predefined reasons for change, and allocates values to the change components.
• Approval of changes - pass of the explained asset change values and reasons through approval levels usually depending on value.
• Reporting – internal/external; collate of the reconciled change values by category and product type into reports formatted for either internal or external consumption.