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Oil & Gas UK Seminar Helps Industry Address Effects of Banking Crisis on Investment

20 March 2009

Over one hundred delegates are expected at Oil & Gas UK's forthcoming seminar on 'New Business Models and Financing in the Current Business Climate' to be held on 31 March 2009 at the Aberdeen Exhibition and Conference Centre, sponsored by Aker Solutions.

Paul Dymond, Oil & Gas UK's operations director, said: "The UK oil and gas industry will continue to make a vital contribution to the nation's security of energy supply for decades to come but in the shorter term, is not immune from the impacts of the banking crisis and global recession. There are a wide range of firms operating on the UK continental shelf (UKCS), equipped in different ways to work in the current economic climate.

Oil & Gas UK's second seminar of 2009 will highlight the range of business models now found in the sector and consider how those structures could affect the robustness of firms' operations in difficult economic circumstances.

At this highly interactive, one-day event, delegates holding financial, commercial and managerial positions within the oil and gas upstream sector will hear from Tullow Oil's group commercial manager, Mike Simpson, and TAQA Bratani's managing director, Leo Koot, about the business models practised by entrepreneurial companies. They will then learn from Troels Albrechtsen of Maersk Oil about the importance of continued value creation and from Dana Petroleum.

Delegates will also benefit from learning about the experiences of more established producers and contractors who have operated on the UKCS for decades and whose business models have evolved over time in response to the changing economic climate, including Iain House, head of finance with BP, on the company's continuing engagement with the UKCS. In the pursuit of growth, AMEC's operations director, Sandy Clark, will highlight how his company has adapted; John Scrimgeour, Petro-Canada's regional manager, North-West Europe, will explain how the company has seized the opportunities that have presented themselves and we shall also hear from Petrofac.

The afternoon session will help delegates understand the position of financial institutions in this credit crunch with presentations from speakers from banks, energy investment companies and business advisory services; HSBC, Barclays, Tristone Capital, Lime Rock and Ernst & Young will offer their views and engage in discussion with delegates on how exploration, production and service companies can present themselves to maximise the involvement of potential growth partners and access debt and equity markets.

Finally, Simon Toole, head of licensing, exploration and development at DECC, will explore the success of PILOT programmes to improve the business environment and in particular, will explain the new changing gear initiative.

The seminar presents an excellent opportunity for debate and networking on a topic crucial to the future of the North Sea. To book a place, click here.