CO2 Storage Resource Management System – Application and Learnings from World’s First Booking

When:  Sep 25, 2024 from 06:00 PM to 09:00 PM (SGT)
Associated with  Singapore Section

Carbon capture, utilization, and storage (CCUS) is experiencing rapid growth and the ability to classify and compare projects across the globe is of increasing importance. The CO2 Storage Resources Management System (SRMS) has been designed to provide the common framework and is increasingly being applied across the industry. The SRMS has been seeded from the widely used Petroleum Resources Management System (PRMS), which makes it ideal for industry professionals familiar with the concepts of classification and categorization.

The SRMS was applied to an onshore project by an Australian oil and gas company in 2021 and led to the world’s first public reporting of CO2 storage quantities under the SRMS classification system. Standard reserves workflows and systems were modified for CO2 evaluation and reporting, resulting in a streamlined processes throughout the organization. Multiple benefits were realized such as standardized evaluation and reporting, a unified language across the company, and enhanced formality in CCUS reporting.

As more CCUS projects are proposed, a robust classification system has become vital to communicate consistent terminology, valuation methodologies, and reporting systems for identifying project status and differential between projects. The application of the SRMS is highly recommended for stakeholders, financiers, or regulatory bodies involved in the commercial development of a CCUS project.


Paul Lyford is the Reserves and Resources Manager at Santos Ltd, an Australian oil and gas company and the first to add CO2 Storage resources to the annual reserves report. Paul has over 30 years experience and has been involved in many field developments across Australia. He has a background in reservoir engineering, operations, planning, strategy and commercial. He is a Fellow of the Institution of Engineers Australia, a member of Society of Petroleum Engineers (SPE) and member of Society of Petroleum Evaluation engineers (SPEE). Paul holds an honors degree and PhD in Engineering from University of Melbourne and post graduate qualifications in Finance. Paul is currently a member of the SPE CO2 Storage Resources Committee (CSRC) and involved with the SPE SRMS subcommittee charged with updating the SRMS.


Gathering around 6PM, delicious Italian food and networking 

Talk 6:45PM - 7:15PM

Q&A and further networking till 8:30PM

Cost (for registration in advance): Members $35 / Non-members $50 / Students-retired-unemployed $25 Please register through this website so we record your name and email address. We only receive payment by Paynow or bank transfer.

IMPORTANT: You will need to make a payment in advance.

Please pay by Paynow to WCW at 8337 4173. Remember to indicate your name in the reference. Official receipt will be sent to your email after the event. Payment at the door is $75 for everyone.

See you soon! Please feel free to contact us via WhatsApp or email for any questions or clarification.

Contact details below.

SPE Distinguished Lecturer: Paul Lyford, Reserves and Resources Manager at Santos Ltd


Pasta Fresca
30 Boat Quay
Singapore Singapore


Paulina Svoboda