This paper introduces the criteria for classification of SEC reserves

discusses evaluation methods of SEC reserves in terms of static evaluation

dynamic evaluation and value evaluation

and analyzes the sensitivity of evaluation results to various parameters

including static

dynamic and economic parameters. Moreover

the main factors influencing evaluation results are identified through various case studies. For dynamic evaluation of reserves

previous development patterns

current development status and future development trend should be used to rationally divide reserve evaluation units and select optimal types of decline curves

decline rate

stable production time and initial production rate

so as to ensure the evaluation results being objective and accurate. Oil price is believed to the most sensitive economic parameter that influences the remaining economically recoverable reserves and its values

followed by cost

cost partitioning coefficient and investment. This study provides a basis for determining SEC reserves evaluation procedure and appraising the accuracy of evaluation results.