The role of geophysics in petroleum resources estimation and classification—new industry guidance and best practices

Abstract

Geophysical technologies can have an impact on both the uncertainty axis as well as the maturity axis of the resource classification framework described in the Petroleum Resources Management System (PRMS). For conventional resources, the technical maturity of a project can be significantly impacted by applying geophysical technologies for assessing structural definition, reservoir development, fluid contacts and movements, and for flow surveillance. For unconventional resources, the largest uncertainties to date are on efficient extraction, an area where geophysical technologies have so far mainly played a supporting role. Geophysical technologies also may contribute to the definition of the range of the low, best, and high resource volume estimates.