Exploration and Resources Maturation Strategies
Tailored portfolio management systems for oil and gas clients
Resource maturation, and its role in portfolio management, relies upon internally consistent definitions and measures. GCA utilizes commonly accepted definitions (e.g. SPE Petroleum Resources Management System - PRMS) that provide transparency to both internal and external stakeholders to ensure an accurate understanding of the current resources maturation sub-classes for each project is communicated to management and key decision makers.
The approach supports managing portfolios of opportunities at various stages of exploration and development, which will be supplemented by quantitative estimates of chance of commerciality. A resources maturation system should also describe the overall controls that govern reserves and resources estimation, approval and reporting, and where necessary, provide transparency of different volumes’ classification and project maturity. GCA and its staff have extensive experience to define and implement such systems, internationally.