Investing in petroleum under a carbon 'cloud'
How can the oil and gas industry work together with climate issues?
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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
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9:25
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Session 1 - The carbon cloud
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9:25
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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.
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9:30
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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.
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10:00
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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.
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10:01
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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.
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10:30
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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
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11:30
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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.
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12:00
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Session 2 - oil and gas companies' responses
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12:00
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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.
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13:30
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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.
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14:00
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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.
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14:30
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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
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15:00
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Drinks reception in Geological Society Libary
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Sponsors of this event
Future Energy Partners LtdFuture Energy Partners (FEP) 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.
FEP was founded by 4 senior industry 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 a transforming, transitioning, industry, in order to maintain an energy supply 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
FEP actively participates in the facilitation and conduct of seminars and webinars worldwide, for example in conjunction with its associate partner Finding Petroleum.
Our presence reaches parts of the globe, such as: the UK, the USA, Sub-Saharan Africa, with partners wherever we work.
Bernstein ResearchSanford 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.
BPBP 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 JournalCarbon 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
Future Energy Partners LtdFuture Energy Partners (FEP) 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.
FEP was founded by 4 senior industry 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 a transforming, transitioning, industry, in order to maintain an energy supply 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
FEP actively participates in the facilitation and conduct of seminars and webinars worldwide, for example in conjunction with its associate partner Finding Petroleum.
Our presence reaches parts of the globe, such as: the UK, the USA, Sub-Saharan Africa, with partners wherever we work.
Registered Delegates
Stuart Amor
Analyst
United Kingdom
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Chris Davies
Greenfield
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Margaret Christie
Business Unit Environmental Adviser, Aberdeen
Premier Oil
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Alexandra Cass
Principal Consultant - hydrocarbons
Advisian (WorleyParsons group)
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Charlotte Grezo
Partner
Grezo & Co LLP
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Jake Leyland
Preventable Surprises
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Iain Poole
Barnett Waddingham LLP
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Faouzi Khene
GXT
United Kingdom
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Raj Thamotheram
Consultant
Preventable Surprises
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Simon Berkeley
Director
Berkeley Associates
United Kingdom
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Wally Jakubowicz
Managing Director
Hampton Data Services
United Kingdom
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Olivia Stewart
Programme Coordinator
Preventable Surprises
United Kingdom
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Heidi Hellmann
Head of Strategy
BG Group
United Kingdom
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Bauyrzhan Zhumabek
Production and Development team
Idemitsu Petroleum
United Kingdom
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Howard Covington
Preventable Surprises
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David Sendra
Associate Consultant
BlackRockQI
United Kingdom
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Jasmin Kemper
IEAGHG
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Nick Bright
Retired
United Kingdom
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Stuart Lodge
Process Engineer
BP
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Feargal Murphy
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IGS
United Kingdom
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Robert Snashall
Consultant
RGSConsult
United Kingdom
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Nick Wayth
VP Competitor Intelligence
BP plc
United Kingdom
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Peter Dolan
Founding Non-Executive Director
Ikon Science Limited
United Kingdom
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Patrick Taylor
Director
RISC (UK) Limited
United Kingdom
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Robert Kennedy
Managing Director
Caithness Petroleum Limited
United Kingdom
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Andrew Hopkins
Director/Seismic Interpretation Consultant
Inline Associates Ltd
United Kingdom
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David Fishman
Chief Economist
Robertson
United Kingdom
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Sean Barber
Business Development Manager
Cereno
United Kingdom
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Bob Lambert
Founder
Ipex Energy Ltd
United Kingdom
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Brian Hepp
President
Rocky Mountain Limited
United Kingdom
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Will Thornton
Geologist
CGL
United Kingdom
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jonathan bedford
Director
JXT
United Kingdom
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Robert Waterhouse
Director
Rosha Resources Ltd
United Kingdom
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Chris Gumm
Business Development
CGX
United Kingdom
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RITCHIE WAYLAND
Chief Executive
Karapinar
United Kingdom
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Elodie Grant Goodey
Managing Director
Saltus Consulting Ltd
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John Glass
Consultant Geologist
Cloverfield Consulting Ltd
United Kingdom
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Peter Allen
Consultant
Layla Resources
United Kingdom
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Jerome Foreman
Principle Geoscientist
Sasol Petroleum
United Kingdom
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Micky Allen
consultant
consultant
United Kingdom
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Joseph Woodward
graduate (MSc Petroleum Engineering)
London South Bank University
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David Webber
Seismic Operations Consultant
Seismic Operations Consultant
United Kingdom
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Peter Farrington
Geophysicist
Consultant Geophysicist
United Kingdom
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Brian McCleery
Director
M2C Energy Advisers
United Kingdom
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Juliet Phillips
Campaigns Officer
ShareAction
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Dan Kunkle
Director
Count Geophysics
United Kingdom
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Holger Schmid
MAVA
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Pete Nolan
Exploration consultant
SHP
United Kingdom
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Meg Nicolaysen
Critical Resource
United Kingdom
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Martin Shaw
Managing Director
MOAMS Ltd
United Kingdom
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Irini Katsiani
Manager, Business Development
Statoil
United Kingdom
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James Rosenshine
Industry Executive, Oil & Gas
Dassault Systemes
United Kingdom
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Kristinah Samy
Senior Manager
Moore Stephens
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Chris Wheaton
Director
Stifel
United Kingdom
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Robert Ward
Advisor
Decision Frameworks
United Kingdom
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Frances Morris-Jones
Non-Executive Director, OGA
Non-Executive Director
United Kingdom
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Daniel Barnes
Consultant
StrategicFit
United Kingdom
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Jane Wheelwright
Technical Application Specialist
DGI
United Kingdom
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Helen Turnell
Principal Consultant
NR Global Consulting Ltd
United Kingdom
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Belinda Perriman
Carbon Capture & Storage Consultant
Teesside Collective
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Brian Donnelly
Consultant Geophysicist
Donnelly
United Kingdom
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Martine Davis
Business Development Manager
NVentures
United Kingdom
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Richard Newton
Geoscientist
Tullow Oil
United Kingdom
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Alexandra McKenzie
artist
Finding Petroleum
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John Simmons
Director
ON Communication
United Kingdom
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Alex Orbell
Geoscientist
Tullow Oil
United Kingdom
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Karl Jeffery
Editor
Finding Petroleum
United Kingdom
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Robert Parker
Consultant
Parker
United Kingdom
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Giles Watts
Consultant
Watts Geoscience Consulting
United Kingdom
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Avinga Pallangyo
Events Coordinator
Finding Petroleum
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Andrew Foulds
Director
Petrafiz Ltd
United Kingdom
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Alastair Bee
Westwood Global Energy
United Kingdom
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Nick Norton
Senior Energy Advisor
Foreign Office
United Kingdom
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David Russell
Consultant
Petromall
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Hugh Ebbutt
Associated Director
WSS Energy Consulting
United Kingdom
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Nikki Jones
MSc student
GeoExpro
United Kingdom
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Richard Lobeck
Corporate HSE Manager
Premier Oil
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frank drennan
Managing Director
xodus subsea
United Kingdom
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Bryan Moseley
Geologist
Geologist
United Kingdom
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John Lewis
Head of corporate services
Premier Oil
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Steve Esau
Analyst
Xynteo
United Kingdom
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