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Emerging deepwater areas

Understanding the deepwater opportunity
Oswald Clint
» Senior Analyst
» Bernstein Research
Dr Keith Myers
» Founding Partner
» Richmond Energy Partners

Full Agenda

Wednesday, September 26, 2012
The Geological Society

Deep Water Exploration success has underpinned global exploration discovery volumes since the mid-1990’s when results from the Gulf of Mexico began to be matched by those from the deep water parts of the Congo, Niger and Nile deltas and the Campos basin.

From time to time, we began to think that perhaps there would be no more deep water provinces; and then along came Ghana and the Santos basin, and latterly French Guiana, East Africa (maybe) and Angolan sub-salt!

And of course the Gulf of Mexico will continue to test ever deeper water, ever deeper targets and ever more ‘paradigm-breaking’ depositional systems….if Washington can ever get its act together.

But isn’t the end now in sight?

One of our Finding Petroleum number has, we recall, previously offered to drink all the oil that’s developed around the Falkland Islands - recent drilling seems to reveal that so far he is safe!

And offshore Greenland has proved a disappointment to Cairn Energy. As has Namibia to Chariot.
And the South China Sea seems less promising rather than more……..
And isn’t New Zealand a long way from anywhere?
And are the Indian deeper water discoveries really as large as reported?

And if we are going to explore ever more remote deepwater regions, can we say anything about technologies that help us in meeting the challenge without losing our shirts in the process; can we reduce exploration risk, can we reduce the extraordinarily high cost of drilling?

And of course there remains ‘a shadow in the room’ – have events in the Gulf of Mexico impacted the industry’s ability to explore and develop these remote frontier regions? Is regulation tightening and will the demand for financial guarantees against potential loss and damage exclude all but the biggest companies?


9:00 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 t
9:40 Oswald Clint - Senior Analyst
Bernstein Research

The significance of Deep Water to global supply

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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
10:15 Dr Keith Myers - Founding Partner
Richmond Energy Partners

Mid and Large Cap explorers - where are they succeeding in 2008-2012?

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After completing a Ph. D. at Imperial College, Keith joined BP in 1987 as a geologist. Following a variety of technical roles, he became a Senior Commercial Advisor in 1996 when he led several major negotiations for new business access as well as Business Strategies for BP’s business in West Africa and BP’s Strategic Alliance with Statoil. Since 2000 Keith has been an advisor to numerous energy companies on strategy and partnership issues Keith founded Richmond Energy Partners in 2006 to provide independent advice to investors in smaller oil and gas companies. Richmond Energy advise some of the largest funds and institutions investing in the sector. Keith takes a keen interest in oil sector governance and served on the organising committee of the Good Governance of the National Petroleum Sector Project at the think tank Chatham House.

Richmond Energy Partners
Richmond Energy Partners was founded in 2006 and provides independent advice to investors in smaller
10:50 Tea & Coffee
11:15 James Etienne - Managing Director
Landmark Exploration Insights

New Deep Water plays around the globe

Landmark Exploration Insights (formerly Neftex), is a product family within Landmark, a business lin
11:50 Richard Swarbrick - Managing Director GeoPressure
Ikon Science

“Pressure regimes in Deep Water areas: Cost and exploration significance”

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Talk Description
We will use our worldwide experience (including most of the areas in the Finding Petroleum introduction for this event - Greenland, Falklands, Gulf of Mexico, Niger Delta, Angola, Namibia - and much more to illustrate the talk and develop discussion of appropriate technology for deep water drilling.
Ikon Science is a global geoprediction technology company providing industry leadership in the predi
12:25 Ron Borsato - Team Leader - Advisor Geophysics

The Atlantic Conjugate Margins: An Exploration Strategy

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Talk Description
The Deep Water South Atlantic Conjugate Margin - Africa from the Transform Margin down to Angola and Brazil from the Eq. Margins down to the Santos Basin
PGS is a leading, international, marine geophysical company. Our business is technology driven and w
13:00 Raffle prize draw, followed by lunch & refreshments

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“Pressure regimes in Deep Water areas: Cost and exploration significance”
by Richard Swarbrick from Ikon Science

"Alternative perspectives + meeting people old & new."


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