Global Reserves Summit 2011 industry experts and speaker faculty including:

  • Campbell Airlie
    Technical Director
    Seven Energy
  • John Weston
    Director
    Eromanga Hydrocarbons
  • Roger Schwall
    Assistant Director, Office of Natural Resources
    Security and Exchanges Commission

Mapping new horizons for the estimation and reporting of reserves

The value of any company is measured by its assets. For oil companies their assets are their oil reserves. The industry has seen over the last decade the importance of accurately estimating your reserves. Overestimations – or underestimations for that matter- can be fatal for smaller E+Ps who can be wiped out by a sudden share price crash. In 2004, even a giant such as Shell suffered financial losses and reputational damage after listing their reserves 20% higher than was actually the case.

In preparation for Global Reserves Summit 2012, Oil and Gas iQ is running a short survey to assess the current trends and challenges oil and gas operators are facing in regards to their global reserves. Complete survey Friday, 1st June to enter the prize draw and win a guest pass to attend the summit for free:

www.surveymonkey.com/s/GlobalReserves

For this special 10th iteration of our prestigious Global Reserves Summit we will be focusing our attention on these critical challenges:

  • Rewriting the rule book: The impact of changes to SEC and SPE guidelines and how they are adopted by sovereign regulatory bodies
  • The Three Ps: Proven, Probable and Possible – what they mean and how to get there
  • Discourse on Methodology: The advantages and disadvantages related to reservoir simulation, material balance and decline curve analysis – as well as knowing what methodology to use and when
  • Probabilistic vs. Deterministic: The strengths and weaknesses of each approach, including how the Monte Carlo method can enable you to reach a set of aggregated reserves results

Key areas of focus at the 2012 Global Reserves Summit:

  • Explore the history of reserves estimation and discover how inconsistency in global reserves estimates can impact on your reserves reporting
    Campbell Airlie, Technical Director, Seven Energy
  • Uncover the latest developments of the PRMS-AD and it's impact on the industry to the industry
    Satinder Purewal, COO and Technical Director, EER Limited
  • Gain an insight into the latest work by the UNFC and their contributions towards improving the UNECE
    Charlotte Griffiths, Chairman, Sustainable Energy Division, UN Economic Commission for Europe
  • Explore the challenges and latest updates regarding production sharing contracts (PSC's) and explore whether service contracts are a better option for the industry
    John Weston, Chief Operating Officer, Mercury Oil & Gas and Executive Director, Eromanga Hydrocarbons
  • Discover the latest updates regarding the SEC Reserve Reporting Requirements and learn how other operators have managed with the latest round of updates
    Roger Schwall, Assistant Director, Office of Natural Resources, Security and Exchanges Commission

Who will I meet?

The Global Reserves Summit 2011 brings together a world-wide audience, with representatives from all of the reserves disciplines able to debate the latest developments and strategies. Join your peers at this established event to understand the best methods for overcoming your reserve challenges.

The conference will be very relevant (though not limited to) the following people:

  • Reservoir Managers
  • Senior Reservoir Engineers
  • Advanced Reservoir Engineers
  • Reserves Specialists
  • Reservoir Team Leaders
  • Reservoir Coordinators
  • Reserves Manager
  • Internal Reservoir Evaluators
  • Managers – Exploration & Production
  • Sub-surface Team Leaders
  • Asset Leaders
  • Geologists
  • Petroleum Economics Specialists
  • Engineering Vice Presidents
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