The Techniques and Business Aspects of Carbon Capture, Utilization and Storage, and the CO2 Storage Resources Management Systems (SRMS)

Disciplines: Health, Safety, Environment, and Sustainability | Reservoir

Course Description

As part of the international effort to combat global warming, significant attention is being given to ways to sequester (store for the long-term) carbon dioxide, which is a major contributor to the greenhouse effect. It is therefore critical that there is a universal means to record the storage volumes by recognizing the maturity of the projects to be implemented and the confidence that can be placed in the estimated sequestered volumes.

This course will look at some of the ways in which carbon dioxide can be stored and provide a detailed review of the SRMS framework prepared by the Society of Petroleum Engineers to classify and categorize the storage volumes. The course will include example calculations to show how the storage quantities can be estimated. 

In addition, the course will cover the economics of CCS in the context of the various carbon pricing and policy incentives that are being developed, with an assessment of the risks involved in capture, transport, and storage.  The economic framework in which CCS operates around the world will be described, with examples given to illustrate how the investment case is evolving.

Although there are a number of business models emerging, the most popular of these will be set out, with a description of how risks are being assessed and allocated between project participants, host governments and lenders.


The first part of the course will provide:

  • An overview of carbon capture, utilization and storage, including the role of greenhouse gasses in global warming
  • Discussion of typical modes of storage of carbon dioxide in saline aquifers and depleted oil and gas fields
  • Detailed review of the SRMS, including principles and key definitions
  • Discussion of economics and evaluation methods
  • The methodologies are illustrated with examples

The economic and commercial features of the course will cover:

  • The cost base involved in capture, transmission, and storage
  • Carbon pricing methodologies and their relevance to CCS
  • The emerging investment case for CCS around the world, including policy support and incentives
  • The CCS business model and risk allocation

Learning Level

Introductory to Intermediate

Course Length

1 day

Why Attend

The SRMS is a powerful management tool that provides a means to classify and characterize storable quantities of carbon dioxide in a manner similar to that provided by the PRMS for oil and gas reserves and resources. This course will provide you with a thorough understanding of the principles and guidelines of what is likely to become the global standard for CO2 storage.

Who Attends

Professionals of any discipline who are or will be responsible for estimating and reporting storable quantities of carbon dioxide and also those who use such estimates for business decisions, including management, legal and accounting staff.


.8 CEUs will be awarded for attending this 1-day course.

Cancellation Policy

All cancellations must be received no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. Refunds will not be given due to no show situations.

Training sessions attached to SPE conferences and workshops follow the cancellation policies stated on the event information page. Please check that page for specific cancellation information.

SPE reserves the right to cancel or re-schedule courses at will. Notification of changes will be made as quickly as possible; please keep this in mind when arranging travel, as SPE is not responsible for any fees charged for cancelling or changing travel arrangements.

We reserve the right to substitute course instructors as necessary.


None Rawdon Seager is a reservoir engineer with over 49 years of experience in the international oil and gas arena and has carried out numerous field studies, reserves assessments, and asset evaluations. Throughout his career, Rawdon has been deeply involved with the proper evaluation and reporting of oil and gas reserves and resources using the Petroleum Resources management System (PRMS) and other standards, a subject on which he provides clients with advice and training. His current focus is on the application of the SRMS to carbon capture and storage (CCS) projects and in assessing the impact of carbon pricing on the estimation of reserves. He has worked on several projects that involve an assessment of storage capacity and is using that understanding and current experience to offer training on the proper interpretation of the SRMS. He is based in Houston, Gaffney, Cline & Associates’ western hemisphere headquarters, where he is Chief Reservoir Engineer as well as Global Director of Quality Assurance.


Nicholas Fulford trained as an engineer and has spent his career focused on the natural gas value chain before more recently focusing on the Energy Transition and carbon management. Nick spent much of his early career with British Gas/Centrica and in the 1990s was instrumental in the restructuring of the gas and power sectors in the UK, which he then developed in a US and Canadian context after managing the acquisition of Direct Energy.


A deep involvement in the LNG sector has provided Nick with a practical understanding of the complexities of project structuring, transfer pricing, and risk allocation along the value chain, which he has recently been applying to the emerging business models associated with CCUS and related carbon pricing and credit revenues. His current focus is advising clients on the economic and commercial risks associated with CCS, and how these can be appropriately managed between the emitter, the transmission and storage entities, and major lenders who are now seeking to deploy capital in the industry.

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