| Coming into 21 century, and along with the embed development of socialistic marketing economy and joining the WTO formally, Chinese petroleum industry is experiencing the profound transform. In the macro, the petroleum industry carries through the reform unprecedentedly, reoganizes and erects the "oil corporation" system which makes the main industry stand out. While in the micro, according to the modern enterprise system' s requisition, the petroleum enterprises are carrying out the shift strategy from extensive operation to intensive operation. During the transform processe, the petroleum industry and the corporations are facing many problems need to be settled down urgently. For instance, the reform to the traditional assets management system of oil and gas reserves, the permission of fair exchange of oil and gas reserves as assets , the enterprises' s reoganization and coming into the market , the financing from inland and outland, jointing venture and collaborating better with international petroleum corporations, and so on. The problems mentioned above are all related to the capitalization of oil and gas reserves. However, to realize the capitalization management of oil and gas reserves, the first thing is to evaluate the value of reserve assets, the second is to set up the exchange market of the oil and gas reserves, to perfect concerned legislation work and to set down correlative support policy. So, the evaluation of the reserves value and the capitalization management of the oil and gas reserves are not only the need of corporations to shift strategy , improve the economy efficiency, strengthen the core competition, take part in the furious competition of international petroleum exploration andexploitation, but also the need of nations to realize the shunt of national assets' s capitalization management, to strengthen the capitalization management and to prevent the losing of the national assets. At the same time, they are the require of establishing the uniform and open trade market of oil and gas reserves orderly. This is the reason why I take the evaluation methods of oil&gas reserves and corresponding supporting policies as my PhD research project. Based on the asset definition along with the oil and gas resources characteristic, this paper compares the different countries' s different definitions and classifications about oil and gas resource entirely and systemic. According to this, it forecasts the future development of oil and gas resources definition, and puts out the prospect changes to the definition of Chinese oil and gas resource. This paper studies different oil and gas resource assets valuating method in detail by means of comparatively-analysis, synthesis-conclude and deduction-illation. It analyzes the advantages and disadvantages of the existing reserve evaluation methods and points out its applicable conditions at the same time. This thesis puts forward the basic principles about the the oil and gas reserves evaluation first. Then recuring to the technical economy method and mathematic method, we set up an improved NPV model which includes more variables such as the increase rate of product cost, the time delay of investment income, and so on. This helps to show out the advantage of improved model against the original one. The merit of improved NPV model is that the improved model not only can apply to the evaluation of residual reserves, but also can be used to forecast the exploration investment effect of the oil and gas resources and the needed investments to maintain the reserves or gain an expected reservesafter some transformation. This article studies some parameters in the improved NPV model, which mostly are about how to forecast the ouput of oil/gas, how to determine the future price of oil and gas, how to calculate the operation cost and tax, how to caculate investment amount, and how to choose the discount rate etc. This study fruit will help to accelerate the combination of the theory to the practice application in the oil fields. This thesis...
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