Reserves Audits and Certifications

With so much stakeholder confidence resting on the independent auditing and certification of 1P (Proved), 2P (Proved plus Probable) and 3P (Proved plus Probable plus Possible) reserves, this is work that should only be performed by highly experienced professionals – a team of professionals in fact, working to internationally approved standards, operating seamlessly across the specialist areas of expertise required to reliably evaluate reserves.

AGR has built a team of permanent in-house experts in the field of audit and certification, who offer clients specialist experience in all subsurface, drilling, facilities and economics disciplines. This team produces audits and certifications to support investment decisions in all types of hydrocarbon resources, in the classes of prospective, contingent and reserves.

Our specialists realise the importance of their work and that investors require information based on rigorous analysis. They are committed to integrity, accuracy and transparency throughout the process to achieve quality in auditing that will stand up to the closest scrutiny.

There’s no substitute for an experienced, integrated and expert team

Auditing and certification work is an important activity in AGR’s Reservoir Management services portfolio, covering every type of investment scenario.

Over our 20 years of producing these reports, we’ve been engaged in just about every type of oil and gas and low carbon projects. And so our colleagues have enormous experience to bring to these assignments.

At every stage of the process the team is supported by AGR’s in-house experts who are highly experienced in geoscience, drilling engineering, reservoir engineering, facilities engineering and well economics.

This enables us to provide clients with a one stop source for independent audit and certification, and one of the most reliable services of its type in the E&P industry.

Complete trust in the auditor is the key factor

Being able to trust the independence and expertise of the auditing team is vitally important in the asset evaluation process. And trust has played a big part in AGR being asked time and again to perform this critical role. The standard of our work is respected globally, enhanced by the numerous audits and certifications we carry out for major energy companies around the world.

Why our clients choose to work with us:

• A globally respected independent audit and certification team.
• A single source for the skills needed for the full evaluation of assets.
• A full-time audit and certification team working seamlessly together across disciplines.
• Operational insight from our many projects in planning and managing wells in all major oil and gas fields and in low carbon investments.
• Experienced in all investment situations.

A comprehensive asset evaluation service

Our audit and certification services provide:

• Independent evaluations for reserves, contingent resources and prospective resources. Reserves are defined as proved, probable and possible with volumes given in low, best and high categories.
• Evaluations based on comprehensive data analysis, interpretations, subsurface and engineering models, facilities engineering and economics. An assessment of the shape of the production profiles is crucial in this review.
• A multidisciplinary approach ensures that all technical and commercial aspects of the reserves and resources are considered.
• A review of the consistency of the data pertaining to the assets, the analysis and the interpretation methods applied by the client. Relevant technical and commercial aspects are also examined.

Audits that are conducted to strict international standards, with most issued according to the Petroleum Resources Management System (PRMS) of the Society of among others Petroleum Engineers (SPE), The U.S. Securities and Exchange Commission (SEC) and the Norwegian Petroleum Directorate (NPD) reporting standards.