Advanced Certificate

Reserves Evaluation - Risks & Uncertainties Certification


Who should attend?

  • This course provides a comprehensive and practical understanding of methods of evaluation and classification of hydrocarbons resources and reserves (PRMS, SEC) and related issues, especially risks and uncertainties and how to assess/mitigate these risks and uncertainties.
Audience :
  • Geoscientists, reservoir engineers, asset managers, economists, government representatives interested or involved in resources and reserves estimation and reporting, as well as related risks & uncertainties assessment.

Level : Proficiency

Course Content


      • E&P field development projects workflow and decision making process.
      • Fundamentals of petroleum economics and economic criteria (NPV, IRR…).
      • Oil & Gas resources and reserves definitions and classification:
      • SPE definitions and guidelines. Petroleum Resources Management System (PRMS).
      • SEC definitions and guidelines.

      • Overview of rock and fluid properties.
      • Basics of reservoir characterization and geo-modeling.
      • Volumetric evaluation of Oil & Gas accumulations.

      • Review of Oil & Gas reservoirs drive mechanisms and related expected recovery factors.
      • Analogs.
      • Performance analysis:
      • Material balance.
      • Decline curves analysis.
      • Simulation models.

      • Concepts of risks and uncertainties.
      • Risks: notions of probability and decision trees.
      • Uncertainties:
      • Statistical description of data.
      • Common statistical distributions.
      • Monte-Carlo and parametric methods.
      • Uncertainties within E&P development projects:
      • Structural, geological and dynamic uncertainties.
      • Notions of geostatistics and stochastic modeling.
      • Uncertainties assessment - Experimental design and response surface methodology.

Learning Objectives

  • Upon completion of the course, participants will be able to:
  • describe E&P field development projects workflow and related decision making process,
  • define concepts of resources and reserves and describe the Petroleum Resources Management System (PRMS) and Securities and Exchange Commission (SEC) system,
  • discuss and apply main petroleum economical criteria affecting reserves evaluation,
  • discuss principles of reservoir characterization and engineering,
  • perform simple resources and reserves estimate,
  • discuss concepts of risks and uncertainties,
  • identify main sources of risks and uncertainties and discuss methods about integrating risks and uncertainties into resources and reserves evaluation: structural uncertainties, geological uncertainties, dynamic uncertainties, geostochastic modeling, etc.

Ways & Means

  • Interactive courses and exercises.


  • An international recognition of your competencies.
  • A Advanced Certificate is delivered.
  • An expertise confirmed in Reserves Evaluation - Risks & Uncertainties .
  • Ready-to-use skills.