Global Hotspots

...are we at a nodal point? 0

Tuesday, April 22, 2014, London, The Geological Society

Is global exploration at a nodal point? No, we are at "LE CRUNCH"!

Let’s consider the three main exploration themes of the moment, namely Deep Water, the Arctic and Onshore/Unconventionals:

Deep Water:
· Are we beginning to run out of prolific plays/basins?
· Aren’t exploration drilling costs spiralling out of control?
· Aren’t development projects unreasonably expensive, typically late and over-budget, and failing to deliver promised production (leading to weak cash flows, NPV losses, reserves downgrades)?

Of these, the most important are the spiralling costs!

The Arctic:
· Can we only explore safely in the Arctic at prohibitive costs?
· Is it true that there are no known development technologies that can deliver production safely and economically in ice-prone environments?

Onshore/Unconventionals:
· Shale gas and shale oil exploitation continues apace in the USA (and Canada).
· Isn’t shale gas and oil exploration in NW Europe in general and the UK in particular going to be disappointing, contentious, long-term?
· Aren’t China and Russia (and perhaps parts of Africa and Australia) going to be the ‘hot’, if not the only, places onshore?

We invite insightful contributions on these topics – please contact David Bamford directly.

Agenda

9:00 Arrivals and Registration. Tea & Coffee

9:30

David Bamford - Director - Finding Petroleum

Welcome & Introduction: Is Exploration now too difficult or are costs just too high?



David Bamford is well known around the oil & gas industry both as an explorer and a geophysicist. He holds a Physics degree from the University of Bristol and a Ph.D in Geological Sciences from the University of Birmingham.

Since 2004, he has been a non-executive director at Tullow Oil plc, being recruited for this position especially for his exploration knowledge. He serves on the Nominations and Remuneration Committees, and was chairman of the latter, and Senior Independent Director, for 3 years prior to his retire from the board at the end of April 2014.

He was on the board of Premier Oil from May 2014 to May 2016.

He retired from BP plc in 2003, his last four positions being Chief Geophysicist (1990-1995), Business Unit Leader (General Manager) for first West Africa and then Norway (1995-1999), and finally Head of Exploration until 2003.

He has served on the boards of Paras Ltd, a small exploration and IS/IT consulting company in which he held 22% equity, until its sale to RPS Energy in 2008 and Welltec a/s, a Danish well engineering company, as the nominee of the private equity investor Riverside.

From 2012 to 201 he was on the board of ASX-quoted Australia Oriental Energy as a non-executive director.

He was a founder of Richmond Energy Partners, a small oil & gas research house, and several media companies that focus on the oil & gas sector, and has served as an advisor to Alliance Bernstein, Opus Executive, the Parkmead Group plc, and Kimmeridge Energy LLP. Since retiring from BP, he has undertaken asset and company valuation projects for investment banks, hedge funds and small oil companies.

Finding Petroleum
Finding Petroleum was established to help the oil and gas industry network, and stay up to date on the latest technological developments. It does this via hosting regular events and with an online social network of nearly 10,000 members.
9:45

Nick Norton - Senior Energy Advisor, Energy Security Team - Foreign & Commonwealth Office, UK Government

UK’s International Priorities in Oil and Gas

Talk Description.
A brief overview of FCO priorities covering the global supply and demand outlook, sector governance, sustainability & subsidy issues and UK comparative advantage in the industry.
Dr Nick Norton is the Senior Energy Advisor to the Climate Change and Energy Department of the Foreign and Commonwealth Office. Nick has 30 years experience in the energy industry working for BP and latterly consulting which included finance and business development roles in the coal, petrochemicals, upstream oil & gas and renewable sectors. Most recent geographical experience has included Russia and Iraq.

Foreign & Commonwealth Office, UK Government
The FCO promotes British interests overseas, supporting our citizens and businesses around the globe.

FCO is a ministerial department, supported by 11 agencies and public bodies.
10:20

Ivan Sandrea - Senior Advisor - Oxford Institute for Energy Studies

Mexico reforms: the opening and potential opportunity set


Ivan Sandrea is a senior advisor to the Oxford Institute for Energy Studies and a global consultant.

Ivan’s previously served as President and COO for the Energy Intelligence Group (EIG) in London. Prior to joining EIG, Ivan was Vice President of Global Strategy and Business Development, and Vice President of International E&P Strategy for Statoil (4 yeas). During his career at Statoil he established world class units within the firm covering both business intelligence and strategy development (London and Oslo). Prior to his position at Statoil, he was Head of Oil Supply at the Organization of the Petroleum Exporting Countries (OPEC), and was responsible for the supply and oil balance sections of the OPEC Monthly Report and the supply section in the annual World Oil and Industry Outlook reporting directly to the Secretariat and the Economic Commission Board (Austria). At OPEC, Ivan also acted as the technical liaison with non-OPEC countries and represented OPEC at the UNECE Expert Group on Resource Classification in Geneva. Ivan is also familiar with the financial community and before working at OPEC was Associate Vice President for Oil & Gas Equities at Merrill Lynch. He is trained as a petroleum geologist and began his career at BP Exploration International where he worked in exploration, operations, and commercial positions in Venezuela, Norway and Egypt.

Ivan is currently active as a Senior Research Advisor at the Oxford Institute for Energy Studies (UK); member of the Oxford Energy Policy Club; co-founder, Board Member, and lecturer of strategy at the Executive Energy MBA program at Vienna’s Wirtschaftsuniversität (WU) in Austria; member of the UNECE Expert Group on Resource Classification (Geneva);Board Member of KleineHerzen (Austria), a non-profit organisation dedicated to supporting orphans children in Russia and Ukraine. He has published over 16 papers and contributed to a number of books and publications.

He was recently appointed as a trustee to the Energy Policy Research Foundation, Inc. (Washington, D.C.). EPRINC, a non-profit think tank established in 1944, provides research and analysis of contemporary petroleum issues.
Ivanholds a BSc. in geology from Baylor University, a MSc. and MBA from Edinburgh University and attended the BerkleyExecutive Leadership Program. He is married and has one son.

Oxford Institute for Energy Studies
The Oxford Institute for Energy Studies was founded in 1982 as an autonomous centre for advanced research into the social science areas of energy issues. The Institute is committed to the idea of dialogue - between consumers and producers, government and industry and academics and decision makers. This is reflected in the membership of the Institute and in the composition of its research team, which is drawn from different national, academic and professional backgrounds. Our aim is that co-operation between researchers from these varied backgrounds, will lead to a more informed and balanced understanding of the behaviour, motivations and objectives of the various economic forces, agents and policy makers that operate in or influence the performance of international energy markets.
10:55

Fiona MacAulay - Chief Operating Officer - Rockhopper Exploration plc

Twelve Months in the Life of a Small Oil Company; Does size matter?


Fiona is a geologist with over 25 years of experience in the oil and gas industry including time at Mobil, Amerada Hess and BG. She joined Rockhopper in 2010 immediately following the Sea Lion discovery and was an integral member of the senior team which managed the appraisal of the Sea Lion field and discovered the Casper, Casper South and Beverley fields. Fiona was appointed to the Board in March 2013.

Rockhopper Exploration plc
Rockhopper Exploration plc ("Rockhopper") is an AIM listed oil and gas exploration company based in the UK with interests in the Falkland Islands. It was established in 2004 with a strategy to invest in and undertake an offshore oil exploration programme. It was floated on AIM in August 2005. Rockhopper holds 40% interests in production licences PL032 and PL033 and, on completion of a farm-in announced in October 2013, 24% stakes in blocks PL004a, PL004b, and PL004c. All of these blocks are operated by Premier Oil. In addition, it has a 3% interest block PL003, operated by Desire Petroleum.

Prior to drilling, Rockhopper undertook an extensive work programme over its acreage including 2D and 3D seismic surveys and controlled source electromagnetic mapping. In February 2010, the Ocean Guardian drilling rig arrived in Falkland waters to carry out a multi-well programme on behalf of multiple operators. In the spring of 2010, Rockhopper drilled an exploration well on the Sea Lion prospect which resulted in an oil discovery. This was the first oil discovery and Contingent Oil Resource in the North Falkland Basin. The well was successfully flow tested in September 2010 and a number of additional exploration and appraisal wells were drilled subsequently. Ultimately, Rockhopper's campaign with the Ocean Guardian lasted from April 2010 to January 2012 and comprised ten wells, seven of which were successful.
11:30 Lunch, Coffee & Tea

12:15

Neil Hodgson - - TGS

Croatia - Oil province in the centre of Europe

Talk Description.
As an exploration arena, the Croatian Adriatic offers a number of significant attractions. Firstly there is the proven hydrocarbon system, that looks more prospective than its Italian counterpart but much less explored. The basin is predominantly in shallow water, and there is sophisticated production experience and infrastructure in-country, and it is located in Europe, with a stable government, good economic terms, supportive energy authorities, close to hydrocarbon markets.

The opening of the Croatian offshore Licensing round on 2nd April 2014 ushered in a new area for exploration in the Adriatic, where early discoveries of over twenty dry gas fields in the Northern Adriatic were followed by the discovery of several oil fields in the south, yet to-date, these have been only in Italian waters. Previous attempts to identify carbonate margin oil plays in Croatian waters were significantly hampered by the lack of seismic of high enough quality to map Cretaceous carbonate facies and Triassic source rocks. New long streamer 2D seismic acquired in 2013 offshore Croatia is set to change the industry’s ability to address these issues, resolve the extensional, halokinetic and compressional tectonics in the basin and map reservoir facies, model trap filling history and reveal a suite of plays not previously imaged. These data bring a new light to the basin, heralding the dawn of a bright new day for Croatian exploration.

TGS
TGS is the world's largest geoscience data company, known for its asset-light, multi-client business model and global data library. Our primary business is to provide geoscience data to energy companies worldwide. We offer extensive global libraries that include seismic data, magnetic and gravity data, multibeam and coring data, digital well logs and production data. Additionally, the company offers advanced processing and imaging services, interpretation products and data integration solutions.
12:50

Stanislaw Mazur - Principal Consultant - Getech

Geodynamics and Petroleum Geology of the Circum-Arctic

Talk Description.
In this presentation we demonstrate a comprehensive data set that integrates the diverse fields of potential fields interpretation, structural mapping, plate tectonic modelling, chronostratigraphy, palaeogeography, geochemistry and petroleum systems analysis to help focus new ventures exploration targets and ultimately reduce risk. Results are summarised for all of the principal basins around the Circum Arctic margins showing how the various elements of the proven and potential petroleum systems within these basins are recognised. Moreover their temporal and spatial distribution, interactions and controlling mechanisms are determined and assessed using a tectonostratigraphic framework, presented against the background of a new, rigorously tested and researched plate tectonic model.

We show how a number of geological problems are tackled with innovative methods and observations with significant impact on the hydrocarbon potential of the region are presented. These include: new insights into regional sediment and crustal thickness from geophysical data modelling; a solution to the Sverdrup Basin – Hanna Trough connection puzzle; and the evolution of the Laptev Sea continental rifts.
STANISLAW MAZUR is a Principal Consultant at Getech, where is responsible for technical supervision of proprietary interpretation projects. Prior to returning to Getech, Dr. Mazur was a New Ventures Geologist at ARKeX, and previous to that, in his first period at Getech, he was a Senior Structural Geologist. He has had a 20-year career in academia, working in institutions, such as the University of Wroclaw, GeoForschungsZentrum Potsdam and the Polish Academy of Sciences. Dr. Mazur has also authored or co-authored more than 200 research papers and conference abstracts. He was a Visiting Research Fellow at the University of Leeds during 2008-2011, and has a Ph.D. in Geology from the University of Wroclaw, Poland.

Getech
For over 25 years, we've been using our data and geoscience expertise to help the oil and mining industries locate the earth's natural resources. Whatever your requirements, our multidisciplinary team of geoscientists can help you make enlightened business decisions.

At Getech, we offer a range of services dedicated to helping you understand the geological risks and opportunities associated with locating natural resources - whether you're working on a global or regional scale.

Our eco-system offers a holistic view of how our core services interact, with Globe at the centre.
13:25

Ruth Lux & Andrew Foxall - - Strategic Analysis

Western companies in Russian E&P after Ukraine and Crimea

Talk Description.
A brief overview of the political and security environment for Western E&P companies operating in Russia after Russia’s invasion of Ukraine, in early March, and subsequent move to absorb Crimea.
Ruth Lux

Ruth Lux is Founder and Managing Director of Strategic Analysis at the Henry Jackson Society and Director of Political Risk. Ruth has developed and managed internal training for the Research Team and production of Strategic Analysis’ Research, Analysis and Consulting client services. She has developed company methodology on assessing risks to the oil and gas sector in the Middle East and North Africa and specialises on the Levant. Prior to establishing Strategic Analysis she worked in the political risk sector on political and violent risk issues in the Levant.

Andrew Foxall
Director of the Russia Studies Centre and Analyst

Dr Andrew Foxall is Director of the Russia Studies Centre at The Henry Jackson Society and an analyst for Strategic Analysis. He previously held academic positions at the University of Oxford and Queen’s University Belfast.

Strategic Analysis
Strategic Analysis at the Henry Jackson Society leverages the unique specialist capabilities of the Henry Jackson Society Research Division to provide our clients with decision-ready, commercially relevant research, analysis and consulting services to assist them in enhancing their operations and minimizing potential risks to their business. The Research Division monitor and analyse the economic, security and political risks which may impact our clients operating in the Middle East and Eurasia. Strategic Analysis offers incomparable access to the Research Division together with a selection of services which are tailored to our clients' requirements.
14:00 Raffle prize draw, followed by Close

Sponsors of this event

Getech
For over 25 years, we've been using our data and geoscience expertise to help the oil and mining industries locate the earth's natural resources. Whatever your requirements, our multidisciplinary team of geoscientists can help you make enlightened business decisions.

At Getech, we offer a range of services dedicated to helping you understand the geological risks and opportunities associated with locating natural resources - whether you're working on a global or regional scale.

Our eco-system offers a holistic view of how our core services interact, with Globe at the centre.

EPI
EPI is an independent, highly experienced and skilled seismic QC/QA consultancy to the Energy Industry with a variety of specialist skills for land, marine and TZ Quality Control. As an international consultancy we work globally providing clients with outstanding 'seismic QC solutions'. Our experience includes: * Arctic exploration * 4D Reservoir monitoring * Carbon capture & storage * Frontier exploration * OBC/ OBC technologies * Wireless & node technology * Unconventional resources.

We offer a fully bespoke service and cover all aspects of project design, parameter and source optimisation, crew mentoring, start-ups, technical assurance, HSSE QC support and seismic data processing.

RPS Energy
RPS Energy provides a range of technical, commercial and project management support services to the international energy industry, covering geoscience, engineering and HS&E, with offices around the world.

Getech
For over 25 years, we've been using our data and geoscience expertise to help the oil and mining industries locate the earth's natural resources. Whatever your requirements, our multidisciplinary team of geoscientists can help you make enlightened business decisions.

At Getech, we offer a range of services dedicated to helping you understand the geological risks and opportunities associated with locating natural resources - whether you're working on a global or regional scale.

Our eco-system offers a holistic view of how our core services interact, with Globe at the centre.

Spectrum
Spectrum is established as a key player in the seismic services market. The company focuses on delivering high-quality Multi-Client seismic data and holds the world's largest 2D offshore library.

Spectrum is among the seismic industry's fastest growing companies. The Spectrum group provides innovative Multi-Client seismic surveys and high quality Seismic Imaging services to the global oil and gas industry from offices in the USA, Norway, UK, Brazil, Australia, Indonesia and Singapore.

Spectrum
Spectrum is established as a key player in the seismic services market. The company focuses on delivering high-quality Multi-Client seismic data and holds the world's largest 2D offshore library.

Spectrum is among the seismic industry's fastest growing companies. The Spectrum group provides innovative Multi-Client seismic surveys and high quality Seismic Imaging services to the global oil and gas industry from offices in the USA, Norway, UK, Brazil, Australia, Indonesia and Singapore.

Registered Delegates

Hugh Ebbutt
Director
A T Kearney
United Kingdom
James Cockings
Consultant Petroleum Geologist
Gulfsands Petroleum
United Kingdom
Josh King
Analyst
RAB Capital
United Kingdom
Tony Grindrod
Trustee
AAPG Europe
United Kingdom
Caron Howard
Business Development Manager
Hannon Westwood
United Kingdom
Alina Spitchakova

RAB capital
United Kingdom
Steve Smith
Director
Akeman Exploration
United Kingdom
Hywel John

Haven Energy
United Kingdom
Robert Snashall
Consultant
RGSConsult
United Kingdom
Ben Pleasant
Graduate Trainee in Sales and New Ventures
ARKeX
United Kingdom
Norman Hempstead
Director
Hempstead Geophysical Svcs
United Kingdom
Fiona MacAulay
Chief Operating Officer
Rockhopper Exploration PLC
David Craik
Consultant
Atlaslocal
United Kingdom
David Jenkins
Director
Hurricane Energy plc
United Kingdom
Robert Waterhouse
Director
Rosha Resources Ltd
United Kingdom
Christian Richards
Sales Manager
AustinBridgeporth
United Kingdom
Robert Long
Energy Content Specialist
IHS
United Kingdom
Martin Smith
Business Development Manager - Operations
RPS Energy
United Kingdom
Michael Sutherland
Director
AVOCA
United Kingdom
Dapo Fakorede
Consultant
Independent
United Kingdom
Norrie Stanley
Consultant
RPS Energy
United Kingdom
Derek Cox
Business Development
BBC Monitoring
United Kingdom
jonathan mooney
Business Development
Intent Consulting
United Kingdom
Terry Devine
Asset Development Manager
Schlumberger
United Kingdom
Mark Houchen
Global New Venture Manager
BG Group
United Kingdom
Bob Lambert
Founder
Ipex Energy Ltd
United Kingdom
Aaron Lockwood
Software Sales Manager - EAME
Shearwater Geoservices
United Kingdom
Katie McCagherty

Bluelogic
United Kingdom
Mark Foster
Managing Director
JHKI Services Limited
United Kingdom
Tom Martin
Director
Shikra Consulting
United Kingdom
Erik Mielke
VP Businesss Development
Buried Hill Energy
United Kingdom
Ewan Rossiter
Geologist
JX Nippon
United Kingdom
Neil Carmichael
CEO
Siren
United Kingdom
Robert Kennedy
Commercial Director
Caithness Petroleum Limited
United Kingdom
Kirsten Roettcher
Director
KR Enviroconsult Ltd
United Kingdom
Paul Featherstone
Exploration director
Siren E & P
Cyprus
Geoffrey Thiemann
Image Interpreter
CGG
United Kingdom
Rod Makin
Consultant
LK Exploration
United Kingdom
Rob Nesbitt
Director
SMBC
United Kingdom
Heather Pratt
Geomarket Director Europe
CGG
United Kingdom
Jacques Fischer
Junior RM
Lloyds Bank
United Kingdom
Philip Leijten
Director
Soka Solutions
United Kingdom
Will Jeffery
Senior Offshore Interpreter
CGG
United Kingdom
Ali Ramady
Territory Sales Manager
LMKR
United Kingdom
Shaun Dunn
Global Business Manager – Exploration
Sonardyne International
United Kingdom
Diwin Amarasinghe
Geophysical Specialist
Consultant
United Kingdom
David Murray
Senior Analyst
Mars Omega LLP
United Kingdom
Gareth Morris
Account Manager
Spectrum
United Kingdom
Suzannah Kwok
Consultant
Consultant
United Kingdom
Michael Blakemore
Director
Michael J. Blakemore Ltd
United Kingdom
Neil Hodgson
New Ventures Manager
Spectrum
United Kingdom
Roger Doery
Consultant
Consultant
United Kingdom
Suzannah Kwok
Associate Director
Michael Page Oil & Gas
United Kingdom
Patrick Horwood
Business Development Geophysicist
Spectrum GEO Limited
United Kingdom
Ian Newth
Director
Count Geophysics
United Kingdom
Martin Hodge
Data Processing, Time Imaging & Data Management Geophysicist
MoveOut Data Seismic Services
United Kingdom
Olav Nipen
Specialist Geology
Statoil
Norway
Brian Donnelly
Consultant Geophysicist
Donnelly
United Kingdom
Bradley Eales

NA
United Kingdom
Owen Williams
Analyst
Statoil
United Kingdom
Nnamdi Anyadike
London office
Energy Correspondent
United Kingdom
Ed Evans
MD
NDB Ltd
United Kingdom
Anne Hegarty
Exploration Intelligence - Analyst
Statoil UK Ltd
United Kingdom
Teng Ben
Business Analyst
Eni
United Kingdom
David Weeks
Geoscientist
Neftex
United Kingdom
James Sagoe
Researcher
Strategic Analysis
United Kingdom
Terry O'Donnell
Business Development Manager
EPI Group
United Kingdom
Harish Pillai
Vice President
Neo Energy
United Kingdom
RUTH LUX
Managing Director
Strategic Analysis at the Henry Jackson Society
United Kingdom
John Bell
07908784118
EPI Group
United Kingdom
Frances Morris-Jones
Non-Executive Director, OGA
Non-Executive Director
United Kingdom
James Dodson
Account Manager
TGS
United Kingdom
Charles Czajkowski
Senior Business Development Manager
EPI Ltd
United Kingdom
Keith Nunn
Managing Director
Nunngeo Consulting Ltd
United Kingdom
Jerry Jarvis
Exploration Manager
Tullow Oil
United Kingdom
Natalie Cronshaw
Event Manager
Finding Petroleum
United Kingdom
Martine Davis
Business Development Manager
NVentures
United Kingdom
Tina Dickson
Events
UCL
United Kingdom
Nick Norton
Senior Energy Advisor
Foreign Office
United Kingdom
Ivan Sandrea

Oxford Institute for Energy Studies
United Kingdom
Roshni Varia

University of Derby
United Kingdom
Simon Cushing
Research Director
Gartner
United Kingdom
Mike Larkin
Business Development Executive
Palantir Solutions
United Kingdom
Steve Bottomley
Director
Upstream Consultants Limited
United Kingdom
Nikki Jones
MSc student
GeoExpro
United Kingdom
Ryan Turner
POLITICAL RISK ANALYST
PGI
United Kingdom
Kim Fairweather
Consultant
Vision Project Services
United Kingdom
Jim House
Director
GeoSeis Ltd
United Kingdom
soraya derdiri
private investor
PI
United Kingdom
Grant Rudgley
Senior Energy Analyst
Visiongain
United Kingdom
Dirk Cuthbertson
Marketing Manager
Getech
United Kingdom
Surinder Rai
CEO
Private E&P
United Kingdom
Sam Raszewski
Energy Industry Analyst
Visiongain
United Kingdom
Stanislaw Mazur
Principal Consultant
Getech
Jon Manning
Recruitment Consultant
Provide Oil and Gas
United Kingdom
Laura Warne
Recruitment Consultant
Working Smart Ltd
United Kingdom
Alex Hall
Explorationist
Glencore
United Kingdom
Sarah Ghemraoui
Consultant
QE