This symposium will bring together a diverse group of international stakeholders to improve and provide clarity to the accuracy, reliability, utility, and transparency of oil and gas reserves and resource data. The goals of the symposium are to:
- Facilitate dialogue among all international generators, reporters, and users of oil and gas reserves and resource data including engineers, geoscientists, accountants, bankers, investors, policymakers, and regulators to improve the estimation and reporting process, ensuring that reported data is accurate, reliable, and useful.
- Discuss recent developments in oil and gas reserves estimation and reporting practices with special emphasis on the interpretation of the 2008 US Securities and Exchange Commission rules regarding the Modernization of Oil and Gas Reporting.
- Promote the use of common terminology centered on project-based concepts fundamental to the Petroleum Resources Management System (PRMS).
- Develop a list of action items, which, through their implementation, will help standardize the work processes needed to generate consistent and acceptable reserves and resource data.