Foreign Oil And Gas Reserves Asset Evaluation Methodology Is A Comparative Study

Oil &Gas property is the essential asset of oil company ,not only because the oil and gas property is the resource of present profit, but as the foundation for its development. At present ,the three major oil companies of China --PetroChina, Sinopec and CNOOC have made a successful public offering of shares in overseas stock markets ,all of them are faced the real issue to meet the requirement in oil &gas reserve estimating with international method. According to the requirement of Security and Exchange Commission of America (SEC) , oil companies should provide reserve estimating reports and informations according to the standard of SEC. Because there are much differences for the classification system of oil and gas reserve between China and America , so on the estimating method . It is impossible to estimate reserves up to standard of SEC in domestic by now, the reserve in their annul reports of three major domestic oil companies was estimated by foreign estimating agency Ryder Scott and D&M. So, it has realistic meaning to master the international reserve estimating method for domestic oil companies.Based on broadly collecting domestic and foreign standard of reserve classifications and estimating methods , this thesis compares the current domestic reserve estimating methods with SEC's method ,combining the actual case that foreign agency evaluated the reserves for domestic oil company, the article put forward some detailed advises to domestic oil companies which will speed up to track with the international reserve estimating methods.