GeoGrid Center provides the following services related to oil and gas reserves evaluation based on permanent geological and technological models of petroleum fields
Engineers of GeoGrid Center perform on-going estimation and re-estimation of oil and gas reserves based on the recommendations as to the structure and the process of state expert review of on-going changes in reserves. The recommendations were approved by Order No. 01-9/100-org. of the State Committee for Mineral Resources dated 02.02.2015.
GeoGrid's engineers estimate hydrocarbon reserves according to the Requirements to the Composition and Appearance of Oil and Combustible Gas Estimation Data Presented for State Expert Review” (Order No. 34 of the Ministry of Natural Resources and Environment of the Russian Federation dated 15.02.2011) based on the geological model of the field according to Regulations RD 153-39.0-047-00 and the supplementing Recommended Practices for the Development of Permanent Geological and Technical Models of Oil and Gas Deposits (part I, Geological Models, 2003) and according to the Recommendations to the Methods of Development of Geological Models for Hydrocarbon Reserve Calculation dated 02.02.2015.
Reserves are calculated in strict accordance with requirements of applicable regulations, namely the following:
• Requirements to the Composition and Appearance of Oil and Combustible Gas Estimation Data Presented for State Expert Review, approved by Order No. 564 of the Ministry of Natural Resources and Environment of the Russian Federation dated 28.12.2015
• Recommended Practices for the application of the Classification of Resources and Reserves of Oil and Combustible Gases approved by Order No. 3 of the Russian Ministry of Natural Resources dated 01.02.2016, which in turn was approved by Order No. 477 of the Russian Ministry of Natural Resources dated 01.11.2013.
The deliverable is the report submission to the State Committee for Mineral Resources and the inclusion of the reserves into the balance sheet.
Engineers of the GeoGrid Center have hands-on experience of estimating hydrocarbon reserves based on both Russian and international standards.
For companies operating outside of the Russian Federation, engineers of GeoGrid can estimate hydrocarbon reserves based on the SPE/WPC/AAPG standard, GB/T 19492-2004 specification, the UN framework classification of fossil fuels and mineral resources dated 2009 or according to the statutory requirements of the country where the licensed site is located.