Arising from discussions with the UNECE and IASB it is clear that there is a perception outside the extractive industries that the hydrocarbon and solid minerals sectors are essentially the same and that resource and reserve definitions should be compatible.
CRIRSCO is participating in discussions with each organisation to demonstrate the similarities, and considerable differences, between reporting systems in the two industries. Continuous contact has been maintained with the SPE Oil and Gas Reserves Committee since early 2006, and in 2007 this resulted in the publication of a CRIRSCO-SPE Mapping Report, available in the “Library” area of this site. CRIRSCO and the SPE continue to work together to assist the UNECE and others to interpret the needs of the two industries and to establish the main points of similarity for potential future convergence.