CLASSIFICATION (UNFC) TO PETROLEUM RESERVES AND RESOURCES Fidan Gasimova Supervisor: Narmina Garayeva Baku Higher Oil School, Baku, Azerbaijan fidan.gasimova.std@bhos.edu.az Keywords: Classification/Evaluation; Sustainability; Petroleum; Renewables;
As the world's most abundant energy origin, petroleum is a critical
component of global economic growth. In order to have an effective future
planning, both governments and industry must have a comprehensible
terminology for assessing available petroleum quantities for production and
quantities which are expected to become accessible throughout the possible
time interval within extra field development, technological advances, or
during the exploration. It is crucial that the industry establish standard
classification for analyzing the existing and future amount of petroleum
projected as being retrieved from underground accretions that develop
naturally in order to make such an assessment. As a rudimentary subject,
reserve classification approves a joint language in order to undertake risk
and uncertainty associated with petroleum projects. It is also a paramount
essence complying development and usage project of national resources
and supporting the resource management policy. The classification systems
must encounter the assessment requirements and reserve and resource
management in the country that applied to petroleum quantities and be
essentially associated the rail with other foreign ranking and classification
systems. At this thesis, a new and sustainable classification system, called
United Nations Framework Classification System (UNFC) for evaluating
existing oil
&
gas reserves and resources will be introduced in detail based
on current actuality and future demands of resource assessment, reserve
estimation and administration. This classification is a sole tool applied for the
harmonization of policy agenda, oversight of government, industry business
procedure, and effective capital investment, while closely aligned to the basic
points on Sustainable Development Goals (SDGs). (UNECE 2021) In other
words, this classification standard is aimed to ensure the essential provisions
and guiding principles in order to improve the resource management and
development, together with positive consequences for society, environment,
local economies, and employment.
Looking in detail, United Nations Framework Classification (UNFC) is a
globally acceptable and internationally corresponding language for
classification/evaluation of energy and mineral reserves and/or resources,
including
oil and/or gas; renewable energy; nuclear energy; minerals; injection-