Abstract: The basic method that American estimators use to evaluate oil and gas reserves based on reservoir engineering analysis can not be taken as SEC rule. SEC standard is objective, however, how estimators evaluate is objective. Only based on combining the background of professional knowledge, effective local experience, objective evaluation attitude, and reasonable application of evaluation rules, can we be successful to evaluate oil and gas reserves. Comparative analysis shows that the measured remaining commercial recoverable reserves that developed and measure remaining commercial recoverable reserves undeveloped in China are respectively corresponding to SPE/WPC/AAPG proved reserves developed and proved reserves undeveloped. However, there still exist remarkable differences in the thinking mode, standpoint, and phases in the establishment of reserves, the correspondence between geological reserves and recoverable reserves, the dependence of reserves of various grades, the economic connotation and its definition of reserves, and the center of management.

Key words: oil and gas reserves, classification, comparison, difference