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Investing in petroleum under a carbon 'cloud'

How can the oil and gas industry work together with climate issues?
£50 for next 20 tickets
Chris Davies
» Former CCS rapporteur, European Parliament
» Chris Davies
Stuart Lodge
» Process Engineer, Carbon Solutions, Group Technology
» BP
Margaret Christie
» Business Unit Environmental Adviser, Aberdeen
» Premier Oil

Full Agenda

Thursday, November 19, 2015
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.


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 t
9:30 Teng Ben - Senior research associate
Bernstein Research

The need for fossil fuels stretches beyond the horizon

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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 re
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)

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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 is about all those corporate and financial blow-ups that really should - and c
10:01 Howard Covington -
Preventable Surprises

Preventable Surprises is about all those corporate and financial blow-ups that really should - and c
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

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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

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At Allianz Global Investors, we follow a two-word philosophy:
Understand. Act. It describes how
12:00 Session 2 - oil and gas companies' responses
12:00 Stuart Lodge - Process Engineer, Carbon Solutions, Group Technology

CO2 Capture Project (CCP) – Phase 3 Results

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BP is one of the world's leading international oil and gas companies. We provide customers with fuel
12:30 Lunch
13:30 Margaret Christie - Business Unit Environmental Adviser, Aberdeen
Premier Oil

Reducing the impact of ETS on offshore emissions

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Premier Oil plc is a leading independent oil and gas company with producing interests in the UK, Ind
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

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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
14:30 Belinda Perriman - Social Entrepreneur and Carbon Capture & Storage Consultant
Teesside Collective

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

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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 i
15:00 Drinks reception in Geological Society Libary

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