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Global Hotspots


...are we at a nodal point?
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Nick Norton
» Senior Energy Advisor, Energy Security Team
» Foreign & Commonwealth Office, UK Government
Neil Hodgson
»
» TGS
Stanislaw Mazur
» Principal Consultant
» Getech

Full Agenda

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 t
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9:45 Nick Norton - Senior Energy Advisor, Energy Security Team
Foreign & Commonwealth Office, UK Government

UK’s International Priorities in Oil and Gas


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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
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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 res
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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
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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 is the world's largest geoscience data company, known for its asset-light, multi-client business
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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 ind
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13:25 Ruth Lux & Andrew Foxall -
Strategic Analysis

Western companies in Russian E&P after Ukraine and Crimea


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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
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14:00 Raffle prize draw, followed by Close

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