United Nations Framework Classification (UNFC-2009) Harmonisation - - PowerPoint PPT Presentation
United Nations Framework Classification (UNFC-2009) Harmonisation without Homogenisation Presented on behalf of the EGRC By Jim Ross, Ross Petroleum Ltd Reserves & Resources Reporting Continuing Education Seminar (Co-sponsored by SPE
Harmonisation without Homogenisation
Presented on behalf of the EGRC
By Jim Ross, Ross Petroleum Ltd
Reserves & Resources Reporting Continuing Education Seminar (Co-sponsored by SPE London Section and SPEE European Chapter) London 13 June 2016
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United Nations Framework Classification for Energy and Mineral
Reserves and Resources
Generic, principles-based system
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Applicable to both solid minerals and fluids – in fact to most commodities
Based on three criteria
‒ Economic and social viability ‒ Feasibility and project status ‒ Geological knowledge and potential recoverability
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Economic to extract (commercially feasible) Technically feasible to extract Geologically well defined (with high confidence)
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Numerical coding system based on three criteria:
social viability
project status
potential recoverability
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Category Definition E1 Extraction and sale has been confirmed to be economically viable. E2 Extraction and sale is expected to become economically viable in the foreseeable future. E3 Extraction and sale is not expected to become economically viable in the foreseeable future or evaluation is at too early a stage to determine economic viability.
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system
satisfied the definitions for:
will be meaningful
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Category Definition E1 Extraction and sale has been confirmed to be economically viable. Category Definition F1 Feasibility of extraction by a defined development project or mining
confirmed. Category Definition G1 Quantities associated with a known deposit that can be estimated with a high level of confidence.
Proved Reserves are those quantities of petroleum, which by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be commercially recoverable, from a given date forward, from known reservoirs and under defined economic conditions, operating methods, and government regulations.
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Each class is uniquely defined by its code
Extracted Sales Production Non-sales Production Class “Minimum” Categories E F G Future recovery by commercial development projects or mining
Commercial Projects 1 1 1, 2, 3 Potential future recovery by contingent development projects
Potentially Commercial Projects 2 2 1, 2, 3 Non-Commercial Projects 3 2 1, 2, 3
Additional quantities in place associated with known deposits
3 4 1, 2, 3 Potential future recovery by successful exploration activities Exploration Projects 3 3 4
Additional quantities in place associated with potential deposits
3 4 4 Total commodity initially in place
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Mandatory disclosure issues
Project maturity
Distinction between categories
Aggregation
General obligations
Optional additional sub-categories and labels
Extracted quantities that may be saleable in the future
16 Sales Production Non-sales Production Class Commercial Projects Potentially Commercial Projects Non-Commercial Projects
Additional quantities in place
Exploration Projects
Additional quantities in place
Total commodity initially in place Production Class Reserves Contingent Resources
Unrecoverable
Prospective Resources Unrecoverable
Extracted Class Mineral Reserves Mineral Resources
Not reported Not reported
Exploration Results
Not reported
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Memorandum of Understanding - 2006
The UNECE and SPE are working in partnership on the development of the UNFC and the PRMS. The SPE gains significant value from its work with the UNECE, including country access, introduction to new experts and access to ideas from other commodity groups applying the UNFC.
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Bridging Document Petroleum Specifications PRMS Solid Mineral Specifications CRIRSCO Bridging Document Bridging Document Other Aligned Systems
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Bridging Document Petroleum Specifications PRMS Commodity-specific Specifications: Geothermal Bioenergy Wind/solar/hydro Generic Renewable Energy Specifications
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UNFC-2009 is a generic, principles-based system
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Applicable to both solid minerals and fluids
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Uses a numerical coding system
Based on three criteria
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Economic and social viability
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Feasibility and project status
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Geological knowledge and potential recoverability
Direct linkage to PRMS, CRIRSCO Template and NEA/IAEA Red Book
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Quantities can be estimated using these systems and reported using the UNFC numerical codes
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Bridging documents under development for Russian Federation and Chinese classification systems
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Key goal is to provide a tool to facilitate global communications
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Generic specifications for renewable energy sources and injection projects ready for final endorsement
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Specifications for geothermal energy almost completed, bioenergy underway, wind/solar/hydro to follow
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UNFC-2009 has been formally selected as the resource classification system of the System of Environmental-Economic Accounting 2012 Central Framework (SEEA-12), which has been adopted as an international standard by the United Nations Statistical Commission
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The Organisation for Economic Co-operation and Development (OECD) is currently implementing SEEA-12
charlotte.griffiths@unece.org
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