Value evaluation technology of oil and gas reserves in the circulation of mining rights

doi:10.3969/j.issn.1672-7703.2022.03.004

Abstract

Abstract: With the continuous deepening of the state’s policy on management and trading of mining rights and the continuous deepening of the internal circulation of mining rights blocks among oil companies, the asset attribute of oil and gas reserves is more and more prominent, and the management system of emphasizing technology but neglecting value has seriously been impacted. Through the analysis of the current situation and effectiveness of mining rights circulation, the problems of reserve value evaluation existing in the current circulation of mining rights are revealed. In view of the different factors considered by evaluators, the replacement cost method considering the input of reserve acquisition, the discounted cash flow method considering the future income of reserve, and the comprehensive cost method considering both the input of reserve acquisition and the future income of reserve are put forward, forming the value evaluation technology of oil and gas reserves. By taking the value evaluation of oil and gas reserves in M77 block of Changhu Oilfield as an example, the process, results and adaptability of various methods are analyzed, and the feasibility and practicability of this technology are comprehensively verified. In order to promote the marketization of mining rights circulation, work suggestions in five aspects are proposed, including improving the paid use system of mining rights, establishing a trading platform for the transfer of mining rights, exploring the cooperation mode of mixed ownership, strengthening the integrated evaluation of input-output, and building a value-based reserve asset management mode to strive to build a full life-cycle value evaluation system of oil and gas reserves to maintain and increase the value of oil and gas reserves.

CLC Number:

TE121

Liu Bin, Li Feng. Value evaluation technology of oil and gas reserves in the circulation of mining rights[J]. China Petroleum Exploration, 2022, 27(3): 38-46.

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