Journal of the Korean Society of Mineral and Energy Resources Engineers ISSN:2288-0291(Print) 2288-2790(Online) 한국자원공학회지

It is an inevitable work to exactly calculate and classify amount of petroleum resources in petroleum industry, and making a standard on the reserve definition is very important. We usually use U.S.A.\'s standard without Korean one to define reserves, and so there is much confusion in the definition, calculation and classification of reserves due to the misinterpretation of terms. This paper shows an introduction of definition, classification system and calculation methods for oil and gas reserves for the first time in Korea. Also this paper should be helpful for us to make an objective and right decision in the evaluation of a project, work plan, or the property evaluation. We may continuously try to discuss about the reserve definition and make a Korean standard in near future which copes with the international standard.