Getting Developments Right?
....done on time, on budget, as promised!
Free
FEATURED SPEAKERS
Oswald Clint
» Senior Analyst
» Bernstein Research
Martin Shaw
» managing director
» Marine Operations and Assurance Management Solutions Ltd
Full Agenda
Wednesday, December 10, 2014
London
The Geological Society
As illustrated in this report, our industry has profound problems getting development projects done at a reasonable cost, and then on time and on budget. And promised production levels sometimes do not appear.
The problem seems to afflict everybody, whether Majors undertaking projects where they have worked before or, as the above report emphasises, 'minnows' swarming all over the Norwegian and UK sectors.
The cause seems to be a cocktail of exaggerated executive expectations, inexperience operators and project staff, and exponentiating costs.
A Major or a mini-Major can survive such ‘accidents’ – they may not enjoy them but they are robust.
Smaller companies – E&Ps – are not; they are fragile, and will invariably see their share price hammered in the market place.
Previously we have identified three root causes of the problem:
1. Under-appraisal of complex reservoirs.
2. Inadequate project design and concept selection.
3. Lack of QA of project execution.
"What is to be done?"
We invite insightfull contributions!
Please contact David Bamford.
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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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The University of Manchester is a public research university located in Manchester, United Kingdom.
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Dr Clint joined Sanford C. Bernstein in 2004 and was part of the Energy Team with Neil McMahon covering the Global Integrated Oil sector.
Currently he is the Senior Research Analyst covering the European E&P and Russian Oil & Gas sectors. The Bernstein Energy franchise has become well known due to both the provocative commentary on the commodities and oil stocks, as well as the innovative research that forms the core of their frequent publications. Previously, he worked as an accountant and consultant for KPMG covering energy, gas, and chemical sectors. Dr Clint received his PhD in Geophysics from University College London where he specialised in sub-surface rock physics and is also a Chartered Accountant.
Bernstein Research
Sanford C. Bernstein is widely recognized as Wall Street's premier sell-side research firm. Their re
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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. MOAM
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Talk Description
Our Panellists will take part in a Q&A session with the audience, facilitated by our chairman. |
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