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Tentative Technical Programme
Thursday, 3 July 2008
Workshop Introduction: 0830–0930
Objectives and Expectations
Session Manager: David MacDonald
Overview of the ground rules, objectives and expectations for the two days.
Keynote Address: 0900–930
Consistency and Comparability in Reserves and
Resources Estimates
Speaker: John Brooks, Brookwood Petroleum Advisors Ltd.
John will share his perspectives on reserves and resources estimation and the importance of consistency and comparability. He has promised to challenge conventional thinking and pose some controversial arguments.
Session One • 0930–1200 • Introduction to the Petroleum Resources Management System
Session Manager: Bernard Seiller
This session will provide background to the 2007 SPE-PRMS, an overview of the new standard and key changes.
- SPE 2004 Vision Statement
- SPE Mapping Study
- The 2007 SPE-PRMS— Principles and Guidelines
- Major Changes
- Revised Glossary of Terms
Discussion Leaders:
• Bernard Seiller, Total
• David MacDonald, BP
Session Two • 1330–1500 • Application Examples and Case Studies I
Session Managers: Erik Kreft, Jim Ross
Reserves and resources volumes are only
comparable if there is a common classification system and consistent use of a
common set of application guidance. The SPE and its sister organisations are
working towards producing an applications guide to accompany the PRMS. This
session will address some of the issues associated with applying the PRMS using
examples and case studies.
Discussion Leaders
• Erik Kreft, EBN
• Jim Ross, Ross Petroleum
• Graeme Simpson, RPS Energy
• Peter Cunningham, Serafim Ltd
Session Three • 1545–1645 • Internal Stakeholders
Session Manager: Michael Lynch Bell
The PRMS is written as a set of technical guidelines to support consistent project evaluations and portfolio management. Can these guidelines meet the specific needs of our internal stakeholders?
• Business Planning
• Legal Requirements
• Audit Standards
Discussion Leaders
• Michael Lynch Bell, E&Y
• Kathryn Campbell, Sullivan & Cromwell
1645-1700 • Summary of Day One
Friday, 4 July 2008
0830-0845 • Issues highlighted in Day One Discussions
Session Four • 0830–1200 • External Stakeholders
The SPE-PRMS is written as a set of technical guidelines to support consistent project evaluations and portfolio management. It was not designed as regulatory reporting rules. Can these guidelines meet the specific needs of all external stakeholders?
• Financial Requirements
• Investor Requirements
• Government Reporting
• SPE to SEC Reserve Definition
Comparison
• National Resources Planning
Discussion Leader:
• Michael Lynch Bell, E&YSession Five • 1330–1500
Session Five • 1015–1230 • Application Examples and Case Studies II
Session Manager: Dominique Marion, Graeme Simpson
Reserves and resources volumes are only comparable if there is a common classification system and consistent use of a common set of application guidance. The SPE and its sister organisations are working towards producing an applications guide to accompany the PRMS. This session will address some of the issues associated with applying the PRMS using examples and case studies.
Discussion Leaders:
• Dominique Marion, Total
• Graeme Simpson, RPS Energy
• Creties Jenkins, DeGolyer and MacNaughton
• Paul Armitage, Petro Canada
Session Six • 1330–1530 • Non-Technical Issues
Session Manager: David MacDonald
Reserves and resources must pass specific commercial thresholds in addition to
technical criteria in their classification and categorisation. This session
addresses selected commercial issues that are common concerns.
• Commercial versus Economic
• Forecast versus Current Conditions
• Measurement Points—Plant Inlet or Outlet?
• Cessation of Production
Discussion Leaders:
• David MacDonald. BP
• Bernard Seiller, TotalConclusion
Session Seven • 1600–1630 • In Pursuit of the Common Code
Session Managers: Bernard Seiller
Petroleum and minerals are both non-renewable natural resources found on or within the earth’s crust. Many stakeholders question why there should be different evaluation, classification and reporting systems. Ongoing studies to support common treatment under International Financial Reporting Standards make this more than an academic exercise. How should our industry position itself for such changes?
• Integration with the United Nations
Framework Classification (UNFC)
• Interface with the International Accounting Standards Board (IASB)
Discussion Leaders:
• Bernard Seiller, Total
• David MacDonald. BP
Workshop Conclusion • 1630-1700
Session Manager: David Macdonald
