Investing in petroleum under a carbon 'cloud'

How can the oil and gas industry work together with climate issues? 0

Thursday, November 19, 2015, London, The Geological Society


Download the conference report

Finding Petroleum's forum on Nov 19 "Investing in Petroleum under a Carbon Cloud" looked at the best way that the oil and gas industry can work together with current climate concerns.

Agenda

9:25 Session 1 - The carbon cloud

9:25

David Bamford - Director - Finding Petroleum

Welcome & Introduction



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.
9:30

Teng Ben - Senior research associate - Bernstein Research

The need for fossil fuels stretches beyond the horizon


Teng Ben was formerly Business Development Lead Analyst, Portfolio Management, E&P division with ENI, and Analyst - Oil, Gas & Renewables with Standard Bank. She has an MSC in Financial Economics from Said Business School, University of Oxford.

Bernstein Research
Sanford C. Bernstein is widely recognized as Wall Street's premier sell-side research firm. Their research is sought out by leading investment managers around the world, and they are annually ranked at the very top of acknowledged arbiters. In independent surveys of major institutional clients, Bernstein's research is ranked #1 for overall quality, industry knowledge, most trusted, best detailed financial analysis, major company studies, most useful valuation frameworks, best original research, and most willing to challenge management. In Institutional Investor's 2008 annual client survey, the leading survey by which analysts in our industry are evaluated, 100% of our U.S. Analysts were recognized as among the best in their respective fields -- more than any other firm on Wall Street.
10:00

Raj Thamotheram - - Preventable Surprises

Why value at risk will drive forceful stewardship by investors and what this means for fossil fuel companies (Title tbc)

Talk Description.
Raj is CEO of Preventable Surprises.
Howard is chair of the Alan Turing Institute and co author of his and Raj's joint work on forceful stewardship.
Preventable Surprises
Preventable Surprises is about all those corporate and financial blow-ups that really should - and could - have been seen coming. Concerns about BP's safety record and the accounting practices of Tesco were both in the public domain for years before disaster struck. We are a 'think-do' tank that seeks to prevent, or at least mitigate, corporate and market implosions.
10:01

Howard Covington - - Preventable Surprises




Preventable Surprises
Preventable Surprises is about all those corporate and financial blow-ups that really should - and could - have been seen coming. Concerns about BP's safety record and the accounting practices of Tesco were both in the public domain for years before disaster struck. We are a 'think-do' tank that seeks to prevent, or at least mitigate, corporate and market implosions.
10:30

Chris Davies - Former CCS rapporteur, European Parliament - Chris Davies

The business case for investing in carbon capture and storage based on EU's planned emission limits

Talk Description.


Chris Davies is Former CCS rapporteur with the European Parliament. He is a former Member of the European Parliament (MEP) and a former Member of Parliament) in the MP, representing the Liberal Democrats.

Chris Davies
11:00 Coffee

11:30

Christopher Wheaton - Director & Fund Manager - Allianz Global Investors Europe GmbH

Impact of Carbon Pricing on oil & gas Discounted Cash Flows


Allianz Global Investors Europe GmbH
At Allianz Global Investors, we follow a two-word philosophy:
Understand. Act. It describes how we look at the world and how we behave. We aim to stand out as the investment partner our clients trust by listening closely to understand their challenges, then acting decisively to provide them with solutions that meet their needs.
12:00 Session 2 - oil and gas companies' responses

12:00

Stuart Lodge - Process Engineer, Carbon Solutions, Group Technology - BP

CO2 Capture Project (CCP) – Phase 3 Results

Talk Description.


BP
BP is one of the world's leading international oil and gas companies. We provide customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving, and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging.
12:30 Lunch

13:30

Margaret Christie - Business Unit Environmental Adviser, Aberdeen - Premier Oil

Reducing the impact of ETS on offshore emissions


Premier Oil
Premier Oil plc is a leading independent oil and gas company with producing interests in the UK, Indonesia, Pakistan and Mauritania.

Exploration and appraisal is ongoing in the UK, South and South East Asia and Africa.
14:00

Martin Shaw - managing director - Marine Operations and Assurance Management Solutions Ltd

How oil companies can motivate a reduction in fuel consumption / CO2 emissions from the tankers they charter


Martin Shaw is ex VP technical, fleet manager and vetting service manager, BP Shipping.:

· 37 years with BP 3 years consulting on marine operations and marine assurance
· In addition to involvement in tanker operations substantial involvement in the offshore sector
· As an officer on Iolair while building and into service as well as on PSV’s
· Involved with FPSO projects in Australia ( Cossack Pioneer) and West of Shetland ( bought Loch Rannoch shuttle tanker for Schiehallion)
· Involved in buying the Project Jigsaw Regional Support Vessels
· As Regional Director EMEA and TVP involved with Angola, Skarv, GoM
· Developed , negotiated, and gained approval for the Group Marine Standard which amongst other things covers the marine elements of FPSO’s. The standard is still in place in more or less its original form today.

Marine Operations and Assurance Management Solutions Ltd
MOAMS,Marine Operations and Assurance Management Solutions, is a different type of consultancy. MOAMS combines a deep knowledge of marine operations with research into the future of the industry.
14:30

Belinda Perriman - Social Entrepreneur and Carbon Capture & Storage Consultant - Teesside Collective

How to move beyond Hollywood when it comes to Climate Change!

Talk Description.
I would like to challenge the narrative around climate change and the role of the fossil fuel industry in climate change mitigation.
We have grown up on a narrative of Hollywood 'good guys' and 'bad guys'; the fossil fuel industry being placed squarely in the 'bad guy' camp and renewable energy in the 'good guy' camp.
The change from fossil fuels to renewables is woefully slow.
But we have also grown up on Hollywood scripts where someone rides in to save the day at the very last moment.
We live in the real world; it's the only world we have got to live on and we need to get real. Here is how and why I believe CCS is vital in the real world narrative….

I am an Upstream Oil & Gas professional, starting my career as a wellsite petroleum and reservoir engineer. From a VP of Shell Capital at start-up, Value Based Management champion, I lead Upstream Commercial projects, including global acquisitions and swaps. I was Shell Lead of the Peterhead Carbon Capture & Storage (CCS) Project from UK DECC Bid to Front End Design Phase.

Teesside Collective
Teesside Collective is a cluster of leading industries with a shared vision: to establish Teesside in Tees Valley as the go-to location for future clean industrial development by creating Europe’s first Carbon Capture and Storage (CCS) equipped industrial zone
15:00 Drinks reception in Geological Society Libary

Sponsors of this event

PetroMall Ltd
Petromall is a unique oil and gas advisory service which prides itself on technical excellence in selected fields and supplementing business management and leadership; in the face of uncertainty.

We offer truthful, professional opinion and advice; no playback of what you already know, and no spin.

Petromall was founded by 4 senior industry and academic practitioners who consider the challenges faced by today's oil and gas environment are going to require herculean acts of leadership and technical skill in the high cost provinces of the world, in order to maintain an industry that is sustainable and even recognisable compared to recent history.

Similarly nations developing an oil and gas industry face related challenges as they seek to maximise the benefits of this new wealth-creating opportunity - in a responsible manner.

Global reach

Petromall actively participates in the facilitation and conduct of seminars worldwide, in conjunction with its associate partner Finding Petroleum.

Our presence reaches parts of the globe, such as: the UK, Malta, the USA, through partners in the Middle East, North Africa and Sub-Saharan Africa.

Bernstein Research
Sanford C. Bernstein is widely recognized as Wall Street's premier sell-side research firm. Their research is sought out by leading investment managers around the world, and they are annually ranked at the very top of acknowledged arbiters. In independent surveys of major institutional clients, Bernstein's research is ranked #1 for overall quality, industry knowledge, most trusted, best detailed financial analysis, major company studies, most useful valuation frameworks, best original research, and most willing to challenge management. In Institutional Investor's 2008 annual client survey, the leading survey by which analysts in our industry are evaluated, 100% of our U.S. Analysts were recognized as among the best in their respective fields -- more than any other firm on Wall Street.

BP
BP is one of the world's leading international oil and gas companies. We provide customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving, and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging.

Carbon Capture Journal
Carbon Capture Journal is specifically about developments with industrial scale carbon capture and geological storage technology, with news about the major projects and development with government policy. Informing you about developments in carbon capture, storage, and related government policy, in a way which is clear, useful and won't waste your time

PetroMall Ltd
Petromall is a unique oil and gas advisory service which prides itself on technical excellence in selected fields and supplementing business management and leadership; in the face of uncertainty.

We offer truthful, professional opinion and advice; no playback of what you already know, and no spin.

Petromall was founded by 4 senior industry and academic practitioners who consider the challenges faced by today's oil and gas environment are going to require herculean acts of leadership and technical skill in the high cost provinces of the world, in order to maintain an industry that is sustainable and even recognisable compared to recent history.

Similarly nations developing an oil and gas industry face related challenges as they seek to maximise the benefits of this new wealth-creating opportunity - in a responsible manner.

Global reach

Petromall actively participates in the facilitation and conduct of seminars worldwide, in conjunction with its associate partner Finding Petroleum.

Our presence reaches parts of the globe, such as: the UK, Malta, the USA, through partners in the Middle East, North Africa and Sub-Saharan Africa.

Registered Delegates

Stuart Amor
Analyst

United Kingdom
Bryan Moseley
Geologist
Geologist
United Kingdom
Richard Lobeck
Corporate HSE Manager
Premier Oil
Hugh Ebbutt
Director
A T Kearney
United Kingdom
Chris Davies

Greenfield
Margaret Christie
Business Unit Environmental Adviser, Aberdeen
Premier Oil
Alexandra Cass
Principal Consultant - hydrocarbons
Advisian (WorleyParsons group)
Charlotte Grezo
Partner
Grezo & Co LLP
Jake Leyland

Preventable Surprises
Iain Poole

Barnett Waddingham LLP
Faouzi Khene

GXT
United Kingdom
Raj Thamotheram
Consultant
Preventable Surprises
Simon Berkeley
Director
Berkeley Associates
United Kingdom
Wally Jakubowicz
Managing Director
Hampton Data Services
United Kingdom
Howard Covington

Preventable Surprises
Heidi Hellmann
Head of Strategy
BG Group
United Kingdom
Norman Hempstead
Director
Hempstead Geophysical Svcs
United Kingdom
Olivia Stewart
Programme Coordinator
Preventable Surprises
United Kingdom
David Sendra
Associate Consultant
BlackRockQI
United Kingdom
Bauyrzhan Zhumabek
Production and Development team
Idemitsu Petroleum
United Kingdom
Nick Bright

Retired
United Kingdom
Stuart Lodge
Process Engineer
BP
Jasmin Kemper

IEAGHG
Robert Snashall
Consultant
RGSConsult
United Kingdom
Nick Wayth
VP Competitor Intelligence
BP plc
United Kingdom
Peter Dolan
Founding Non-Executive Director
Ikon Science Limited
United Kingdom
Patrick Taylor
Director
RISC (UK) Limited
United Kingdom
Robert Kennedy
Commercial Director
Caithness Petroleum Limited
United Kingdom
Andrew Hopkins
Director/Seismic Interpretation Consultant
Inline Associates Ltd
United Kingdom
David Fishman
Chief Economist
Robertson
United Kingdom
Sean Barber
Business Development Manager
Cereno
United Kingdom
Bob Lambert
Founder
Ipex Energy Ltd
United Kingdom
Brian Hepp
President
Rocky Mountain Limited
United Kingdom
Will Thornton
Geologist
CGL
United Kingdom
RITCHIE WAYLAND
Exploration Manager
JKX Oil & Gas plc
United Kingdom
Robert Waterhouse
Director
Rosha Resources Ltd
United Kingdom
Chris Gumm
Business Development
CGX
United Kingdom
jonathan bedford
Director
JXT
United Kingdom
Elodie Grant Goodey
Managing Director
Saltus Consulting Ltd
John Glass
Consultant Geologist
Cloverfield Consulting Ltd
United Kingdom
Peter Allen
consultant
layla resources
United Kingdom
Jerome Foreman
Principle Geoscientist
Sasol Petroleum
United Kingdom
Micky Allen
consultant
consultant
United Kingdom
Joseph Woodward
graduate (MSc Petroleum Engineering)
London South Bank University
David Webber
Seismic Operations Supervisor
Sceptre Oil & Gas
United Kingdom
Feargal Murphy

Consultant
United Kingdom
Brian McCleery
Director
M2C Energy Advisers
United Kingdom
Juliet Phillips
Campaigns Officer
ShareAction
Peter Farrington
Geophysicist
Consultant Geophysicist
United Kingdom
Holger Schmid

MAVA
Pete Nolan
Exploration consultant
SHP
United Kingdom
Dan Kunkle
Director
Count Geophysics
United Kingdom
Martin Shaw
Managing Director
MOAMS Ltd
United Kingdom
Irini Katsiani
Manager, Business Development
Statoil
United Kingdom
Meg Nicolaysen

Critical Resource
United Kingdom
Kristinah Samy
Senior Manager
Moore Stephens
Chris Wheaton
Director
Stifel
United Kingdom
James Rosenshine
Industry Executive, Oil & Gas
Dassault Systemes
United Kingdom
Frances Morris-Jones
Non-Executive Director, OGA
Non-Executive Director
United Kingdom
Daniel Barnes
Consultant
StrategicFit
United Kingdom
Robert Ward
Advisor
Decision Frameworks
United Kingdom
Helen Turnell
Principal Consultant
NR Global Consulting Ltd
United Kingdom
Belinda Perriman
Carbon Capture & Storage Consultant
Teesside Collective
Jane Wheelwright
Technical Application Specialist
DGI
United Kingdom
Martine Davis
Business Development Manager
NVentures
United Kingdom
Richard Newton
Geoscientist
Tullow Oil
United Kingdom
Brian Donnelly
Consultant Geophysicist
Donnelly
United Kingdom
John Simmons
Director
ON Communication
United Kingdom
Alex Orbell
Geoscientist
Tullow Oil
United Kingdom
Karl Jeffery
Editor
Finding Petroleum
United Kingdom
Robert Parker
Consultant
Parker
United Kingdom
Giles Watts
Consultant
Watts Geoscience Consulting
United Kingdom
Alexandra McKenzie
artist
Finding Petroleum
Andrew Foulds
Director
Petrafiz Ltd
United Kingdom
Alastair Bee

Westwood Global Energy
United Kingdom
Avinga Pallangyo
Events Manager
Finding Petroleum
David Russell
Consultant
Petromall
frank drennan
Managing Director
xodus subsea
United Kingdom
Nick Norton
Senior Energy Advisor
Foreign Office
United Kingdom
John Lewis
Head of corporate services
Premier Oil
Steve Esau
Analyst
Xynteo
United Kingdom
Nikki Jones
MSc student
GeoExpro
United Kingdom