Regulations on calculation of petroleum reserves and resources in Vietnam

What are regulations on calculation of petroleum reserves and resources in Vietnam?

Calculation of petroleum reserves and resources is specified in Article 8 of Circular 24/2020/TT-BCT, specifically as follows:

On the basis of the classification specified in Article 5 of this Circular, petroleum reserves and resources shall be calculated as follows:

1. Discovered petroleum resources:

a) Petroleum initial in place and petroleum reserves shall be calculated by the operator at corresponding categories (P1, P2, P3). The methods for calculation of petroleum initial in place and petroleum reserves are specified in Appendix II hereof.

b) Prospective petroleum shall also be calculated by the operator at corresponding categories (C1, C2, C3) with values of petroleum initial in place and prospective recovery;

c) Petroleum reserves of the field shall be updated to the Overall Development Plan (ODP), Field Development Plan (FDP) and revised Field Development Plan;

d) Petroleum reserves of the field shall be updated during the exploitation stage where the field reserves are reducing with secondary and tertiary methods such as: infill, enhanced oil recovery (EOR).

2. Undiscovered petroleum resources shall be calculated or estimated for petroleum initial in place and potential recovery (R1, R2). Recovery index shall be acquired according to values of adjacent seams, fields, regions, reservoirs.

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