Performance Excellence

....remains a challenge in our industry 0

Thursday, June 12, 2014, London, The Geological Society

Performance in the oil & gas industry continue to present major challenges.

In Exploration, the last 18 months to two years have revealed abject performance, with poor success rates, whether in Mature areas such as NW Europe or in the Frontiers.

Developments are habitually late, or way over budget, or fail to deliver their production promises.

Production shortfalls are all too common.

What is going on? Does anybody know!

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

Agenda

8:45 Arrivals and Registration. Tea & Coffee

9:30

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.
9:40

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

Excellence and equity- an investors’s view of the energy industry

Talk Description.
An oil and gas industry investor looks back in anger: Why the industry is underachieving, and offers a prescription to make it improve
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.
10:15

Alastair Bee - - Richmond Energy Partners

Exploration Performance- The good, the bad and the unfortunate


After completing a Ph. D. in geochemistry at Imperial College Alastair joined BP in 1973 as a geologist. In a 30 year career with BP, he held a number of posts in technical and team leadership, and held senior managerial positions in the UK, Middle East, South East Asia and Australasia. Alastair also held several business management positions including a period in Strategic Planning in BP’s Head Office and leadership of BP’s Middle East Business Development activities. He has specialist knowledge of exploration, field development, business development and global oil and gas supply issues.

Richmond Energy Partners
Richmond Energy Partners was founded in 2006 and provides independent advice to investors in smaller oil and gas companies. It provides advice to some of the largest funds and institutions investing in oil and gas. Dr Myers has a Phd from Imperial College, London and joined BP as a geologist in 1987, eventually becoming senior commercial advisor at BP in 1996, leading negotiations for new business access for BP in Angola and in its strategic alliance with Statoil.
10:50 Coffee & Tea; Exhibits

11:15

Peter Parry - Partner; Leader, Oil & Gas Division - Bain & Co

Operational Excellence Delivery: The projects and mature asset challenge

Talk Description.
Operational and performance excellence has belatedly risen to the top of IOC agendas. The increase in capital spending to sustain production and mature asset performance below expectation have combined to squeeze performance to levels where both management teams and shareholders are concerned enough to move into action.

Changing performance brings two new concepts to life, 'affordability' for projects and 'predictability' for production assets.

What does or will operational excellence look like?
What analysis and intervention is appropriate?
What actions are yielding success?
Peter Parry is a partner in Bain & Company’s London office and a leader in the firm's Global Oil & Gas practice. He has extensive experience in strategy development, technology management, operations and commercial negotiation. He has worked extensively with the energy industry’s leading players over the past 28 years, including international majors, national oil companies, independent oil, and oilfield and engineering service companies.

Peter has a particular interest in strategies for corporate growth and shareholder return performance. He has extensive experience working alongside executive management in the oil majors and national oil companies, developing and implementing growth strategies.

He has assisted companies to develop technology portfolio management strategies and long-term technology investment plans, and to more closely integrate technical service activities, R&D, and field operations.

He has also played high-profile roles in the World Economic Forum and with the Global Business Coalition on HIV/AIDS, TB and Malaria. He has written and published a number of articles and papers on the oil and gas sector, on the low carbon agenda and on the effectiveness of public/private partnerships.

Prior to joining Bain & Company, Peter worked for Booz Allen Hamilton where he led the global upstream oil and gas consulting business. Previous roles have included managing director of Arthur D Little’s UK consulting and R&D business, manager in the Energy Corporate Finance team of a UK merchant bank and a technical specialist for the geophysical consultancy Scott Pickford and Associates.

Peter is a member of the Association of International Petroleum Negotiators and the Petroleum Exploration Society of Great Britain.

Bain & Co
Bain & Company is the consulting firm the world's business leaders come to when they want enduring results, and a partner who cares as much as they do about getting them. Together, we find value across boundaries, develop insights they act on, and energize their teams to sustain success.
11:50

Robert Waterhouse - Managing Director - Rosha Resources Ltd

Why is everyone, other than the shareholders, doing very nicely?

Talk Description.
There are numerous 'winners' in E&P: the
governments, the local communities and companies, the company boards, geologists, Nomads, accountants, seismic contractors, drilling contractors etc etc etc.

And only one 'loser'. The poor old shareholder.
Robert has previously been involved in marketing non-seismic exploration technology to international E&Ps, and he is currently focused upon executive search and executive coaching for senior management at natural resources and other companies. His career spans the private, public and civil service sectors. He studied the History of Science in his degree.

Rosha Resources Ltd
12:10

Dr. Marcus T Richards - Formerly Group CEO of Dana Petroleum plc - Finding Petroleum

The need for change!


After three very successful years leading Dana Petroleum plc., Marcus Richards stepped down as Group Chief Executive at the end of 2013. Marcus joined the company following its takeover by the Korea National Oil Corporation in late 2010, transforming it from an investor-led business into a fully-fledged exploration, development and production company. Dana now operates in Europe, Africa and the Middle East. The growth strategy launched in 2011 led to exploration and appraisal successes in the UK, Netherlands and Egypt, creating opportunities for future developments. Production grew to 55,000 barrels per day, and Dana shifted its focus from a largely non-operated portfolio towards more operated positions. Dana’s $1.6 billion Western Isles development project approved by the UK Government in late 2012 will provide an additional 40,000 barrels of daily production when it comes on stream in 2015.

Prior to joining Dana, Marcus spent much of his early career with BP. Over a period of 27 years he held a number of business leadership, functional and technical roles within Exploration & Production and BP Group culminating in the role of Senior Vice President corporate headquarters in London. The role covered Upstream E&P and Downstream Refining businesses. Prior to this appointment he held the position of Director and Business Unit Leader, BP Exploration Operating Company Limited for BPs North Sea businesses dealing with the UK, Norway and the Netherlands. His experience includes managing large-scale multi-disciplinary and international teams in operational, major project, research & development arenas. He is a founding shareholder and advisor to Tier One Capital Ltd, Independent Wealth Management and advisory to the financial sector. He holds a BSc (Hons) and PhD, and is an alumnus of Harvard University.

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.
12:30

Multiple - - Panel Discussion

PetroMall Panel Discussion: "What is to Be Done?"

Talk Description.
The core discussion point is: How might we restore belief in E&P companies?

We have looked at the facts, E&P companies are performing poorly and shareholders are losing out!

But moaning about the past and the present doesn't help us too much.....................

How can companies perform better, deliver enhanced shareholder returns, come back into favour?

Panel by:

- Stuart Amor, Head of Oil & Gas Research at RFC Ambrian Ltd

- Robert Waterhouse , Managing Director at Rosha Resources Ltd

- Marcus Richards, Former CEO of Dana Petroleum plc

- Chairman, David Bamford, will lead a Q&A session between the audience and our panellists.


Used for panel discussions

Panel Discussion
This is part of our agenda where Finding Petroleum has a panel discussion.
13:00 Raffle Prize draw, followed by Lunch and refreshments

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.

Bain & Co
Bain & Company is the consulting firm the world's business leaders come to when they want enduring results, and a partner who cares as much as they do about getting them. Together, we find value across boundaries, develop insights they act on, and energize their teams to sustain success.

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.

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
Adam Marmaras
Event Organiser
Finding Petroleum
United Kingdom
Ed Evans
MD
NDB Ltd
United Kingdom
Jasmine Ashley-Tagoe
Legal Adviser
.
United Kingdom
Simon Cushing
Research Director
Gartner
United Kingdom
Reece Harvey
Geology Workflow Advisor
New Digital Business
United Kingdom
Danny Ghale
Business Development
1Derrick
United Kingdom
Gabriela L

GL Group
Oxana Bristowe
Partner
Opus Executive Partners
United Kingdom
Hugh Ebbutt
Director
A T Kearney
United Kingdom
Michael Golden
Consulting Petroleum Geologist / Russian Translator
Golden&Associates
United Kingdom
Adam Waterhouse
Director of Research
Opus Executive Partners
United Kingdom
Alastair Macleod

Aiteo
United Kingdom
Hywel John

Haven Energy
United Kingdom
Robert Parker
Consultant
Parker
United Kingdom
Stuart MacLeod

Aiteo Energy
Nigeria
Don Jameson
Director
Hedera Consulting Limited
United Kingdom
Nicholas Patullo
Senior Partner
Pearson House Capital
Steve Smith
Director
Akeman Exploration
United Kingdom
Norman Hempstead
Director
Hempstead Geophysical Svcs
United Kingdom
Jonathan Popper
Vice President Business Development
Petrofac Integrated Energy Services
United Kingdom
Patrick Bailey
Director
Athena Advisory Limited
United Kingdom
David Jenkins
Director
Hurricane Energy plc
United Kingdom
Greg Coleman
CEO
Petromall
United Kingdom
Kris Hicks
Chief Operating Officer
AVA Energy
United Kingdom
Stephen Osinowo

Imaiseed
United Kingdom
David Bamford

Petromall Ltd
Peter Parry
Partner
Bain & Company
United Kingdom
Sean Akinwale
EMBA Student
Imperial College Business Sschool
United Kingdom
soraya derdiri
private investor
PI
United Kingdom
Michael McCullough
Senior Geophysical consultant
Blue Diamond Exploration Ltd
United Kingdom
Marcus Richards
Managing Director
Independent
United Kingdom
Alina Spitchakova

RAB capital
United Kingdom
Dominic Tansley
Vice President
BNP Paribas
United Kingdom
Dapo Fakorede
Consultant
Independent
United Kingdom
Josh King
Analyst
RAB Capital
United Kingdom
Charlotte Elliott

BP
United Kingdom
Mayur Udernani
Upstream Practice Lead
Infosys
United Kingdom
Kes Heffer
Director
Reservoir Dynamics Ltd
United Kingdom
Bryan Ritchie
AccessDirector, Eastern Hemisphere
BP
United Kingdom
Bob Lambert
Founder
Ipex Energy Ltd
United Kingdom
Roger Pearson
Managing Director
RGP Energy Ltd
United Kingdom
Nick Wayth
VP Competitor Intelligence
BP plc
United Kingdom
Philip Leijten
Director
Ipka Consultancy
United Kingdom
Robert Snashall
Consultant
RGSConsult
United Kingdom
Robert Kennedy
Commercial Director
Caithness Petroleum Limited
United Kingdom
Katerina Gunningham
Partner
Iskra Consulting Ltd
United Kingdom
Robert Waterhouse
Director
Rosha Resources Ltd
United Kingdom
Luiz F. Viotti
Market Intelligence Analyst
CFG Bridge
United Kingdom
Mark Foster
Managing Director
JHKI Services Limited
United Kingdom
John Shearn
Petroleum Engineer
Schlumberger
United Kingdom
Daniela Figueiredo
Director
CFG Bridge Ltd
United Kingdom
jonathan bedford
Director
JXT
United Kingdom
Clarke Shepherd
Senior Project Services Engineer
Senergy Development Solutions
United Kingdom
Chris Gumm
Business Development
CGX
United Kingdom
DAVID HAVERKAMP
Manager, Business Development
Kosmos Energy
United States
Pete Nolan
Exploration consultant
SHP
United Kingdom
Suzannah Kwok
Consultant
Consultant
United Kingdom
Ali Assafiri
Geomatics eng
Laval University
Eugene Nizeyimana

Society of Petroleum Engineers (SPE)
United Kingdom
Camilla George
Marketing
Deloitte
United Kingdom
hodma salad
Director
Legal service plus
United Kingdom
Chris Wheaton
Director
Stifel
United Kingdom
Netti Farkas
Manager
Deloitte
United Kingdom
Alex Biller
Associate
Lloyds
United Kingdom
Michael Dyson
Manager
Striatum
United Kingdom
Catherine Plowdon
Oil and Gas Analyst
Deloitte
United Kingdom
Jacques Fischer
Junior RM
Lloyds Bank
United Kingdom
Vladimir Ayeli
O&G Investment Analyst
VAnalytiQ
United Kingdom
zaki hasan
analyst
deloitte llp
United Kingdom
Peter Nicol
Advisory
Locin Energy
United Kingdom
Angus Warren
Owner
Warren Business Consulting
United Kingdom
Alex Gorman
Oil and Gas Analyst
Deloitte Petroleum Services Group
United Kingdom
Amrit Brar
Marketing and Sales Manager
Lynx Information Systems
United Kingdom
Alastair Bee

Westwood Global Energy
United Kingdom
Marcus Flint
Senior Principal Consultant
DNV GL Ltd
United Kingdom
Duncan Macgregor
Consultant Geologist
MacGeology
United Kingdom
Brendan D'Souza
Research Analyst
WH Ireland
United Kingdom
Gareth Crisford
Business Development Manager
EARTH-i Ltd
United Kingdom
David Murray
Senior Analyst
Mars Omega LLP
United Kingdom
Isobel Hume
Corporate Analyst (Australia)
WH Ireland
United Kingdom
Terry O'Donnell
Business Development Manager
EPI Group
United Kingdom
Georgina Leonidou
Legal Council
Mildwater Consulting LLP
United Kingdom
Antonio Sampaio
Principal Consultant
Wipro Technologies
Henry Faulkner
HSSE Manager
EPI Group
Dipo Salimonu
CEO
Moteriba Terminals & Logistics
United Kingdom
Andrew Zolnai
Owner
zolnai.ca
United Kingdom
Natalie Cronshaw
Event Manager
Finding Petroleum
United Kingdom
Martin Hodge
Data Processing, Time Imaging & Data Management Geophysicist
MoveOut Data Seismic Services
United Kingdom