SPE’s CO2 Storage Resources Management System


Disciplines: Management | Reservoir

Course Description

This is the official CSRC approved course. 

The CO2 Storage Resources Management System (SRMS) provides a classification and categorization system that reflects geologic certainty and project maturity of storable quantities. This short course explains the classes used to indicate the level of project maturity, which is indicative of data available for the assessment. The Storage Capacity indicates the highest level of project maturity, while Prospective Storage Resources is the class for undiscovered storage resources, with the lowest level of project maturity. The categories indicate geologic certainty, e.g. P90 and P10. The course includes discussions of commercial evaluation of storage projects and estimating CO2 storable quantities, with examples.

The SRMS gives owners, stakeholders, and financiers common terminology and methods to compare commercial projects designed to develop Storage Resources to Storage Capacity.

The course follows the 2017 SRMS closely with enhancements made from the 2021 SRMS Guidelines.

Learning Objectives:

  • Names and definitions of Storage Classes and Categories. How to differentiate between sub classes based on project maturity
  • How to mature a project from Prospective Storage Resources to Storage Capacity for projects that lead to active injection and for those that are discontinued
  • How to classify storable quantities based on geologic uncertainty
  • Recommendations on reporting Storage Resources
  • Recommendations on estimating storable quantities

 

Learning Level

Introductory

Why Attend

Discrepancies between subsurface assessments’ storable quantities from different assessors makes comparisons at a specific site or of different geographical areas challenging. Use and awareness of the project-based SRMS provides standards and terminology that will reduce these discrepancies of comparison making commercial agreements between companies, stakeholder, and financiers much more straightforward.

Who Attends

Our target audience is those with interest in subsurface commercial resource assessments or make subsurface estimates of storage for development projects. Those with geologic and petroleum engineering education or training will be prepared for this course. Those with SPE’s Petroleum Resource Management System experience will find this course very intuitive and help build analogies from oil and gas assessments to storage assessments.

Job Titles: subsurface torage asset managers, reservoir engineers, financial analysts

Cancellation Policy

All cancellations must be received no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. Refunds will not be given due to no show situations.

Training sessions attached to SPE conferences and workshops follow the cancellation policies stated on the event information page. Please check that page for specific cancellation information.

SPE reserves the right to cancel or re-schedule courses at will. Notification of changes will be made as quickly as possible; please keep this in mind when arranging travel, as SPE is not responsible for any fees charged for cancelling or changing travel arrangements.

We reserve the right to substitute course instructors as necessary.

Instructors

Subhash Thakur is an independent consultant and the founder of Sustainable Petroleum Solutions LLC. Prior to this, he worked at BP for 35 years as a Petroleum Reservoir Engineer and Resource Manager. He has an extensive background in reservoir simulation, EOR, field development planning, reserves evaluation and CO2 storage. The projects he worked at BP included Permian Basin CO2 EOR, San Juan Basin (Colorado) coalbed methane (CBM) and Trinidad offshore oil and gas field developments. He led a team of specialists which provided reservoir management expertise to BP’s business units worldwide. He conducted screening and economic evaluations of potential CO2 EOR and storage projects on the US Gulf Coast and Canada. He has authored several internal BP reports and SPE publications. He is a member of the SPE CO2 Storage Resource Committee (serves in Communications and Training Materials Subcommittees). He holds a B.S. in Chemical Engineering from India, and an M.S. and Ph.D. in Chemical Engineering from the University of Colorado at Boulder, CO, USA.

Daniel DiLuzio works in Chevron’s Global Reserves group where he is a member of Chevron’s Reserves Advisory Committee (RAC) responsible for the assurance of Chevron’s oil and gas reserves and resources and chair of Chevron’s CO2 Storage Advisory Committee. Dan has 38 years of global industry experience with prior roles with Shell, Total, Newfield and Encana in various engineering and management roles. Dan is a member, and prior chair, of the SPE Oil and Gas Reserves Committee (OGRC) since 2011 and chaired the PRMS Update Sub-Committee delivering the PRMS 2018. Dan is also a current committee member of the SPE CO2 Storage Resources Committee (CSRC). Dan is a member of the Society of Petroleum Evaluation Engineers (SPEE) and a registered Professional Engineer in the state of Texas. Dan holds BS and MS degrees in Petroleum Engineering from Louisiana State University.

None W. John Lee holds the DVG Endowed Chair in petroleum engineering at Texas A&M University. Prior to this position, he held the Hugh Roy and Lillie Cranz Cullen Distinguished University Chair at the University of Houston’s petroleum engineering program from 2011 to 2015. Still earlier, Lee was a professor of petroleum engineering at Texas A&M from 1977 to 2011. He was the former executive vice president of S.A. Holditch & Associates, where he specialized in reservoir engineering for unconventional gas reservoirs. He served as an Academic Engineering Fellow with the US Securities and Exchange Commission (SEC) in Washington during 2007–2008, and was a principal architect of the new SEC rules for reporting oil and gas reserves. Prior to beginning his career in academia, Lee managed Exxon’s Major Fields Study Group. He has written many technical papers and four SPE textbooks: Well Testing, Gas Reservoir Engineering, Pressure Transient Testing, and Applied Well Test Analysis. Lee is an Honorary Member of SPE and a member of the US National Academy of Engineering. He received his BChE, MS, and PhD degrees in chemical engineering from the Georgia Institute of Technology.

Scott Frailey is a principal reservoir engineer for the Illinois Geologic Survey, where he is involved with the technical aspects of the CO2 storage and CO2 EOR programs and provides technical expertise in the areas of reservoir characterization and engineering including pressure transient analyses, core analyses, well log analyses, and reservoir modeling. Scott chairs the SPE CO2 Storage Resources Committee that oversees the Storage Resources Management System (SRMS) and SRMS Guidelines. Previously, Scott was an associate professor of petroleum engineering at Texas Tech University and a reservoir engineer at BP Exploration (Alaska). He graduated from the University of Missouri-Rolla with B.S., M.S., and Ph.D. in petroleum engineering. He is a registered professional engineer in Texas, New Mexico, Illinois, and Indiana, and member of the SPWLA and SPE.

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