India's Hydrocarbon Outlook – 2022-2023

121 DGH: 3 DECADES OF UNLOCKING INDIA'S HYDROCARBON POTENTIAL m Legal and regulatory requirements met m Sales market and sales contracts m Economically viable (positive future net revenue) m Timing (development planned within ~ 5 years) “Reserves” must be economic…technical recoverable quantities may not be Gas Material Balance: Summary Be aware of potential sources of uncertainty Level of maturity Potential drive mechanisms Amount and quality of available data Reconcile with volumetric estimates for initial in-place Consider appropriate abandonment pressure Assign appropriate level of certainty Directorate General of Hydrocarbon (DGH), Ministry of Petroleum & Natural Gas, in collaboration with DeGolyer and MacNaughton (D&M), USA, organized the three-day workshop (10-12 January 2023) on Petroleum Resource Management System (PRMS).