Practical Techniques for Screening Deepwater Offshore Oil and Gas Exploration Prospects

Management and Information


This course will discuss the practical state-of-the-art techniques of Volume to Value (VV) to help attendees assess exploratory deepwater offshore oil and gas prospects and quantify economic values of the prospects. Attendees will learn how to develop a preliminary field development plan for a given discovery prospect and estimate oil and gas recovery, wells required, and costs. They will also learn how to conduct economic evaluation for lease sales or farm-in opportunities.

Topics Include:

  • Volume to value (VV) cycle—from volume to value
  • Brief review of volumetrics applied to exploratory prospects
  • Application of analogues and its relevance to evaluation of similar opportunities
  • Appraisal and field development plan
  • Estimating operating and capital costs

Learning Level


Course Length

2 Days

Why Attend?

Upon completion of this course, attendees should be able to evaluate the commercial potential of original oil and gas in-place in exploratory blocks and develop preliminary field development plans.

Attendees should also be able to obtain value of the opportunity in order to make the decision to go ahead and develop the field or walk away from it, as well as identify constraints in terms of geology and engineering that will make it viable or impede the realization of the project.

Who Should Attend

This course is for petroleum, reservoir and production engineers, and geoscientists, economists, managers, and investors as well as government officials interested in screening deepwater offshore oil and gas exploration prospects for lease sales and/or farm-in opportunities should attend this course.

Special Requirements

Attendees must bring a laptop to class. Instructors will provide Excel programs.


1.6 CEUs (Continuing Education Units) will be awarded for this 2-day course.

Cancellation Policy

To receive a full refund, all cancellations must be received in writing no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. Send cancellation requests by email to; by fax to +1.866.460.3032 (US) or +1.972.852.9292 (outside US); or mail to SPE Registration, PO Box 833836, Richardson, TX 75083.


Luiz C. Amado is an expert in reservoir engineering, PVT/ compositional simulation and integrated asset modeling (IAM), and works with ENI Petroleum as a Senior Reservoir Engineer.

Amado has over 20 years of oil and gas industry experience, working with Shell, Petrobras, Ecopetrol, Nexen Petroleum and Schlumberger. He has been involved in projects in Mexico, the Southern North Sea (Leman), Brazil (Bijupira and Salema fields), and other areas of South America and South Caribbean. He was also involved in many projects in the Gulf of Mexico (Llano field, Pliocene, Miocene, and Lower Tertiary plays, Hadrian, K2, and Santos, Campos and Espirito Santo basins).

Amado holds a BS in civil engineering from Federal Fluminense University, Brazil, an MS in petroleum engineering from Campinas State University, Brazil and a PhD in petroleum engineering from the University of Leoben, Austria. He is a long-standing member of SPE and has served on several SPE technical committees and conference boards. He is fluent in English, Spanish, and Portuguese.

S. M. (Sam) Avasthi, P.E., is chairman and CEO, and director of engineering and EOR/IOR, at Avasthi & Associates, Inc. In addition to providing strategic direction and leadership to the company, that he founded in 1990 and that now provides full-service integrated consulting services to the worldwide oil and gas industry for onshore and offshore, conventional and unconventional/shale, oil, gas, gas-condensate/volatile oil, and heavy oil field evaluation, development and optimization (to maximize oil and gas recovery and project profitability), he is active in consulting and training in his areas of technical expertise. 

Avasthi is an engineering alumnus of the Indian School of Mines University, Imperial College London University, and Texas A&M University (wherefrom he earned a PhD in petroleum engineering). He was a research fellow in chemical engineering at Rice University, and worked for several years in senior-level petroleum engineering and consulting positions with major global integrated oil and gas producing and consulting companies before founding Avasthi & Associates, Inc.

Avasthi is a registered professional engineer (P.E.) in Texas, a Legion of Honor member of the Society of Petroleum Engineers (SPE), and a technical editor of the SPE Reservoir Evaluation & Engineering Journal, SPE Production & Operations Journal, and the Journal of Canadian Petroleum Technology. He is a co-instructor of several popular courses taught under the auspicious of SPE, including, Practical Aspects of CO2 Flooding EOR, Geological Sequestration of CO2, Practical Aspects of Thermal EOR, Practical Reservoir Surveillance and Management Techniques for EOR/IOR Projects, Optimizing Gas Fields using Integrated Asset Modeling (IAM), and Optimizing Shale Plays, and Practical Techniques for Screening Deepwater Offshore Oil & Gas Exploration Prospects.

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