Petroleum Resource Management System

The Petroleum Resource Management System (PRMS) is a structured framework used to evaluate and categorize the different types of oil and gas resources within a reservoir. It helps industry professionals determine how much of these resources can be technically recovered and economically viable over time. By defining categories like reserves (proven, probable, possible) and contingent resources, PRMS ensures consistent assessment and decision-making for exploration, development, and production projects. This system improves transparency, collaboration, and resource management in the oil and gas industry.