Practical Techniques for Screening Deepwater Offshore Oil and Gas Exploration Prospects

Management and Information

Course Description

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.


  • 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 Attends

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) are awarded for this 2-day course.

Cancellation Policy

All cancellations must be received no later than 14 days prior to the course start date. Cancellations made after the 14 day window will not be refunded. Refunds will not be given due to no show situations.

Training sessions attached to SPE conferences and workshops follow the cancellation policies stated on the event information page. Please check that page for specific cancellation information.

SPE reserves the right to cancel or re-schedule courses at will. Notification of changes will be made as quickly as possible; please keep this in mind when arranging travel, as SPE is not responsible for any fees charged for cancelling or changing travel arrangements.

We reserve the right to substitute course instructors as necessary.

Full regional cancellation policies can be found at the Cancellation Policy page within the SPE Training Course Catalog.


Luiz C. Amado, PhD, an expert in reservoir engineering, PVT/ compositional simulation, and Integrated Asset Modeling (IAM), 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 started his career as a Senior Reservoir Engineer with Schlumberger, where he was involved in conducting reservoir engineering and simulation studies of onshore gas and gas-condensate fields in Mexico. During his 10-year career with Shell, as a Senior Reservoir Engineer, he worked on several projects in UK, Brazil and USA. In UK, he was involved in reservoir engineering and simulation studies, and operations, in the Southern North Sea gas and gas-condensate fields. He was responsible for development of the Leman field integrated system model to carry out reservoir engineering tasks in support of operations, field monitoring and optimization. As part of the Leman field IAM study, he was involved in the compressor upgrade project and debottlenecking study for the integrated surface network. He was also responsible for reservoir engineering studies of Bijupira and Salema fields in Brazil. As a Senior Reservoir Engineer for Shell in Houston, he worked on deepwater reservoir engineering projects in GOM (Llano field), and at exploration areas in Brazil (Santos, Campos and Espirito Santo basins), as well as on projects in other areas in South America and South Caribbean. As a Senior Reservoir Engineer for Petrobras America, Dr. Amado worked on reservoir engineering projects to evaluate prospect opportunities in Pliocene, Miocene and Lower Tertiary plays of GOM, and reservoir engineering studies for Hadrian project and Cottonwood gas-condensate field, both in the deepwater GOM. He also worked as a Lead Reservoir Engineer for Ecopetrol America, providing reservoir-engineering support to evaluate opportunities in Pliocene, Miocene and Lower Tertiary plays of GOM and K2 field in GOM. He also worked as an Appraisal Reservoir Engineer for Nexen Petroleum, providing reservoir-engineering support to evaluate opportunities in GOM.

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 a co-instructor of two popular SPE training courses: ‘Optimizing Gas Fields using Integrated Asset Modeling (IAM), and Introduction to Optimizing Shale Gas and Tight Oil Fields’, and ‘Practical Techniques for Screening Deepwater Offshore Oil and Gas Exploration Prospects’. He is fluent in English, Spanish, and Portuguese.

S. M. (Sam) Avasthi, PE, PhD, is chairman and CEO, and director of engineering and EOR/IOR, at Avasthi & Associates, Inc., a worldwide energy consulting company, headquartered in Houston, Texas. 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 (and extra 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, Imperial College London, and Texas A&M University (where 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. in 1990.

Avasthi is a registered professional engineer (PE) 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 auspices 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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