Commodity Specifications for the UNFC-2009 - Application of the Framework Classification Using the PRMS

At its eighteenth session in November 2009, the United Nations’ Committee on Sustainable Energy approved the final text of the United Nations Framework Classification for Fossil Energy and Mineral Reserves and Resources 2009 (UNFC-2009). The principal objective of UNFC-2009 is to enhance international communication by providing a simple, generic classification framework for the reporting of fossil energy and mineral reserves and resources, even though such estimates may have been generated using classification or reporting systems that: (i) may use different terminology for comparable estimates, or the same terminology with different meanings; (ii) incorporate application guidelines that are commodity-specific; and, (iii) may reflect the extraction of solids by mining or the production of fluids through wells. UNFC-2009 has been developed to meet, to the extent possible, the needs of applications pertaining to international energy and mineral studies, government resource management functions, corporate business processes and financial reporting standards. In 2013 the Committee on Sustainable Energy will be approving text detailing the petroleum specification for application of the UNFC-2009 based on the Society of Petroleum Engineers’ (et al) Petroleum Resources Management System (PRMS). These specifications will allow the estimation, categorisation and reporting of petroleum reserves under the UNFC-2009 in a logical and consistent manner for all stakeholder groups