MEEA Republic of Trinidad & Tobago Gas Reserves Certifications Year End 2010 August 10, 2011 Larry McHalffey Senior Petr...
Agenda <ul><li>Ryder Scott Company </li></ul><ul><li>General Reserves Framework </li></ul><ul><li>Gas Reserves Audit Appro...
RSC’s Proven Worldwide Record <ul><li>Formed in Bradford, PA. – USA 1937 </li></ul><ul><li>Independent, Employee Owned </...
Reserves <ul><li>Reserves are remaining quantities of hydrocarbons to be commercially produced from a known accumulation ...
SPE/WPC/AAPG Resource Classification System
Gas Reserves Audit Approach
Audited Companies <ul><li>bp Trinidad & Tobago (bpTT) </li></ul><ul><li>British Gas Trinidad & Tobago (BG) </li></ul><ul><...
General Audit Approach <ul><li>Conduct on-site reviews with operating companies </li></ul><ul><ul><li>Review asset invento...
General Audit Approach <ul><li>Conduct geologic and engineering evaluations </li></ul><ul><ul><li>volumetric estimates and...
Historical Gas Audit Results Year End 2000 To Year End 2010
YEAR PROVED PROBABLE POSSIBLE EXPLORATION 2000 19,674 7,693 5,468 30,330 2001 20,348 8,117 5,857 29,100 200...
UNRISKED GAS RESERVES GRAND COUNTRY TOTALS (BCF) +3% +2% -10% NC NC -10% -10% -6% -7%
UNRISKED GAS RESERVES AND CUMULATIVE PRODUCTION GRAND COUNTRY TOTALS (BCF) +6% -4% +3% +2% -1% +1%
Year End 2010 Gas Audit Results
Unrisked Gas Reserves and Resources <ul><li>Proved: 13,460 BCF </li></ul><ul><li>Probable: 7,642 BCF </li></ul><ul><...
UNRISKED RESERVES DISTRIBUTION
Gas Audit Closing Remarks <ul><ul><li>Target at least 100% proved reserves replacement each year. </li></ul></ul><ul><ul><...
Gas Audit Closing Remarks <ul><li>Exploration activities, leading to drilling of exploratory prospects, is encouraged to ...
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Press meea ye2010

Published on: Mar 4, 2016
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Transcripts - Press meea ye2010

  • 1. MEEA Republic of Trinidad & Tobago Gas Reserves Certifications Year End 2010 August 10, 2011 Larry McHalffey Senior Petroleum Engineer
  • 2. Agenda <ul><li>Ryder Scott Company </li></ul><ul><li>General Reserves Framework </li></ul><ul><li>Gas Reserves Audit Approach </li></ul><ul><li>Historical Gas Audit Results YE 2000 to YE 2010 </li></ul><ul><li>Detailed Year End 2010 Gas Audit Discussion </li></ul><ul><li>Closing Gas Audit Remarks </li></ul>
  • 3. RSC’s Proven Worldwide Record <ul><li>Formed in Bradford, PA. – USA 1937 </li></ul><ul><li>Independent, Employee Owned </li></ul>
  • 4. Reserves <ul><li>Reserves are remaining quantities of hydrocarbons to be commercially produced from a known accumulation as of a given date , under stated definitions, and economic conditions. </li></ul><ul><li>The project represents the link between the petroleum accumulation and the decision-making process, including budget allocation. </li></ul>
  • 5. SPE/WPC/AAPG Resource Classification System
  • 6. Gas Reserves Audit Approach
  • 7. Audited Companies <ul><li>bp Trinidad & Tobago (bpTT) </li></ul><ul><li>British Gas Trinidad & Tobago (BG) </li></ul><ul><li>BHP Billiton Trinidad & Tobago (BHP) </li></ul><ul><li>Chevron Corporation </li></ul><ul><li>EOG Resources Trinidad Ltd (EOG) </li></ul><ul><li>Centrica/Petrotrin </li></ul><ul><li>Repsol </li></ul><ul><li>Open Areas </li></ul>
  • 8. General Audit Approach <ul><li>Conduct on-site reviews with operating companies </li></ul><ul><ul><li>Review asset inventory </li></ul></ul><ul><ul><li>Review geologic and engineering concepts </li></ul></ul><ul><ul><li>Collect and request data </li></ul></ul><ul><li>Catalog assets by </li></ul><ul><ul><li>Company </li></ul></ul><ul><ul><li>Area </li></ul></ul><ul><ul><li>Field </li></ul></ul><ul><ul><li>Fault block / reservoir </li></ul></ul><ul><li>Realign project manpower </li></ul>
  • 9. General Audit Approach <ul><li>Conduct geologic and engineering evaluations </li></ul><ul><ul><li>volumetric estimates and mapping </li></ul></ul><ul><ul><li>material balance </li></ul></ul><ul><ul><li>reservoir simulation </li></ul></ul><ul><ul><li>deterministic & probabilistic analysis </li></ul></ul><ul><ul><li>request additional data / clarification </li></ul></ul><ul><li>Construct comprehensive Access database </li></ul><ul><ul><li>RESDAS </li></ul></ul>
  • 10. Historical Gas Audit Results Year End 2000 To Year End 2010
  • 11. YEAR PROVED PROBABLE POSSIBLE EXPLORATION 2000 19,674 7,693 5,468 30,330 2001 20,348 8,117 5,857 29,100 2002 20,758 8,280 6,062 29,377 2003 18,809 8,627 5,890 28,030 2004 18,775 9,029 7,066 32,184 2006 17,052 7,760 6,225 37,094 2007 16,997 7,883 5,888 31,253 2008 15,374 8,451 6,286 29,641 2009 14,416 7,837 5,893 25,990 2010 13,460 7,642 5,995 25,978 UNRISKE D GAS RESERVES AND RESOURCES GRAND COUNTRY TOTALS (BCF)
  • 12. UNRISKED GAS RESERVES GRAND COUNTRY TOTALS (BCF) +3% +2% -10% NC NC -10% -10% -6% -7%
  • 13. UNRISKED GAS RESERVES AND CUMULATIVE PRODUCTION GRAND COUNTRY TOTALS (BCF) +6% -4% +3% +2% -1% +1%
  • 14. Year End 2010 Gas Audit Results
  • 15. Unrisked Gas Reserves and Resources <ul><li>Proved: 13,460 BCF </li></ul><ul><li>Probable: 7,642 BCF </li></ul><ul><li>Possible: 5,995 BCF </li></ul><ul><li>Expl. Resources: 25,978 BCF </li></ul><ul><li>2010 Production: 1,472 BCF </li></ul>
  • 16. UNRISKED RESERVES DISTRIBUTION
  • 17. Gas Audit Closing Remarks <ul><ul><li>Target at least 100% proved reserves replacement each year. </li></ul></ul><ul><ul><ul><li>YE2010 achieved 35% reserves replacement </li></ul></ul></ul><ul><ul><li>Reasonable demand expectations. </li></ul></ul><ul><ul><li>Establish sufficient probable and possible reserves to sustain 100% proved reserves replacement. </li></ul></ul>
  • 18. Gas Audit Closing Remarks <ul><li>Exploration activities, leading to drilling of exploratory prospects, is encouraged to increase 3P reserves base. </li></ul><ul><li>Field activities to bring proved undeveloped, probable and possible reserves on-line is becoming more critical. </li></ul><ul><li>This study does not include prospectivity in deep water blocks. </li></ul>
  • 19. Thank you for your attention. Questions?

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