India's Hydrocarbon Outlook – 2022-2023

118 DGH: 3 DECADES OF UNLOCKING INDIA'S HYDROCARBON POTENTIAL Earlier, in our country more generalised methodologies were in use for Reserves & Resources, its Estimation and Reporting. They were not consistent and uniform company to company, nomination regimes to contract regimes, conventional to unconventional hydrocarbons. Petroleum resources management system (PRMS) summarizes a consistent approach in estimating oil & gas quantities within a comprehensive classification, categorization & project-definition framework. Directorate General of Hydrocarbon (DGH), Ministry of Petroleum & Natural Gas, in collaboration with DeGolyer and MacNaughton (D&M), USA, organized the three-dayworkshop (10-12 January 2023) on Petroleum Resource Management System (PRMS) . Various E&P companies, academic universities along with financial institution participated to make this workshop a success. The technical sessions over the course of three days were conducted by Mr. Charles F. Boyette, President & COO, D&M and Ms. Donna G. Freyder, SVP & Division Manager of Reservoir Studies Division, D&M. The sessions covered the following aspects: 1. SPE-PRMS guidelines and definitions for classification and categorization of petroleum resources into reserves, contingent resources, and prospective resources 2. Reserve-estimation methods and their workflows; data requirements needed to evaluate a company’s net reserve position Expediting Resources to Reserves Conversion by implementing PRMS 4 118