Methods for Evaluating Petroleum Resources and Reserves in Vietnam

Methods for Evaluating Petroleum Resources and Reserves in Vietnam (Illustrative Image)

To be specific, Article 7 Circular 24/2020/TT-BCT provides for the evaluation objects of petroleum resources and reserves: which are oil and gas reservoirs and formations. Petroleum resources and reserves are calculated based on volumetric methods (conventional, using 3D geological simulation models, reserve density, analogs), hydro-dynamic behavior of reservoirs (material balance and production simulation), and other methods depending on the level of available data. To be specific:

- The applied methods include: Conventional volumetric for all cases; 3D geological simulation models for fields that are developed or being developed; Material balance for fields in production;

- Other methods depending on specific conditions but must be justified when applied.

The results calculated by these methods should be analyzed, compared, and verified.

For cases of updating petroleum resources and reserves, the calculation results must be compared with previous results and the reasons for changes analyzed.

Additionally, petroleum resources, reserves, and their components must be calculated separately for each type of product for each reservoir formation, each type of rock formation, and assess the feasibility of bringing the calculated reserves into production. The parameters for calculating petroleum resources and reserves must follow a uniform unit system. The figures for petroleum resources and reserves must be presented in the International System of Units as stipulated by the Law on Measurement and referenced against international oil industry practices.

More details can be found in Circular 24/2020/TT-BCT, which comes into effect in Vietnam from January 1, 2021.

Le Vy

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