SOCIETY OF PETROLEUM ENGINEERS AND UNECE IMPLEMENT MOU TO DEVELOP A
GLOBAL HARMONIZED CLASSIFICATION SYSTEM FOR PETROLEUM RESOURCES
Geneva, 28 June 2006 -- The Society of Petroleum Engineers (SPE)
and the United Nations Economic Commission for Europe (UNECE) have entered
into a Memorandum of Understanding (MOU) to further efforts to develop
one globally applicable harmonized standard for reporting fossil energy
reserves and resources. Such a standard will ensure greater consistency
and transparency in financial reporting and enhance energy resources management,
energy studies and business processes.
The SPE, working together with the World Petroleum Council (WPC) and the
American Association of Petroleum Geologists (AAPG), has developed definitions
for reserves and resources, and encourages their universal adoption by the
oil, gas, and related industries; international financial organizations; governments;
regulatory agencies; and reporting bodies.
In 2004, the UN Economic and Social Council passed resolution 2004/233 inviting
Member States of the United Nations, international organizations and regional
commissions to consider taking appropriate measures for ensuring worldwide
application of the UN Framework Classification for Fossil Energy and
Mineral Resources (UNFC).
To support worldwide application, the UNECE has created an Ad Hoc Group
of Experts on the Harmonization of Fossil Energy and Mineral Resources Terminology
in which the SPE Oil and Gas Reserves Committee plays a key role. The Group
of Experts provides a forum for stakeholders to assist in defining the needs
to be met by the classification, its definitions, specifications and guidelines,
and a vehicle for recommending their application. Under the MOU, the SPE will
facilitate the development of the texts of a globally harmonized common standard.
For further information about the SPE and the UNFC, please consult the respective
websites: http://www.spe.org/ and http://www.unece.org/ie/se/reserves.html and/or
contact :
Mr. Clark Talkington
Sustainable Energy Division
UNECE
Palais des Nations, Bureau 349
CH - 1211 Geneva 10, Switzerland
Phone: + 41(0)22 917 2671
Telefax: + 41(0)22 917 0038
E-mail: [email protected]
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Ms. Margaret Watson
Spokesperson
SPE
222 Palisades Creek Drive
Richardson, Texas, USA 75080
Phone: +1 972 952 9304
Telefax: +1 972 952 9435
E-mail: [email protected]
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Ref: ECE/SED/06/P02