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The United Nations has developed an international framework classification for solid fuels and minerals (UNFC). This is now being extended to petroleum by building on the joint classification of the Society of Petroleum Engineers (SPE), the World Petroleum Congresses (WPC) and the American Association of Petroleum Geologists (AAPG). The UNFC is a 3-dimansional classification. This: Is necessary in order to migrate accounts of resource quantities that are developed on one or two of the axes to the common basis; Provides for more precise reporting and analysis. This is particularly useful in analyses of contingent resources. The characteristics of the SPE/WPC/AAPG classification has been preserved and enhanced to facilitate improved international and national petroleum resource management, corporate business process management and financial reporting. A UN intergovernmental committee responsible for extending the UNFC to extractive energy resources (coal, petroleum and uranium) will meet in Geneva on October 30th and 31st to review experiences gained and comments received during 2003. A recommended classification will then be delivered for consideration to the United Nations through the Committee on Sustainable Energy of the Economic Commission for Europe (UN ECE).
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The United Nations Framework Classification for World Petroleum Resources
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SPE Annual Technical Conference and Exhibition, Proceedings-Mile High Meeting of the Minds