Commercial and economic assumptions in production forecasting - PetroWiki


The following guidelines are provided to promote consistency in production forecasting and reporting. "Reporting" refers to the presentation of evaluation results within the business entity conducting the evaluation and should not be construed as replacing guidelines for subsequent public disclosures under guidelines established by regulatory and/or other government agencies, or any current or future associated accounting standards. Commercial terms refer both to those specified in Production Operating Agreements (POA) and to the tax laws existing in the affected countries. The POA typically describes the production entitlement of the operating groups and the mechanisms for sharing or recovering costs. The majority of this document focuses on forecasting the total production from a reservoir or field (gross volumes forecast).