FT Conference Agenda

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  • FT Oil & Gas Finance and Investment Forum

    Securing the Future in a Rapidly Evolving Energy Landscape

    The Event Complex, Aberdeen, 4th September 2019

    Overview:

    These are challenging time for the oil & gas industry, and for those charged with navigating a path to future profitability. The volatility which has characterised the oil price in recent years looks set to continue, hampering the process of effective resource allocation and investment decision making. The pace and scale of the energy transition remain uncertain, and as the oil and gas search for new sources of finance, they face increasing competition for capital and a new kind of activist investor more acutely attuned to the potential of climate-related and transition risk and the impact on carbon intense industries. Closer to home, the North Sea remains challenging terrain, although a new generation of innovate, private equity-backed E&P companies are revitalising assets and bringing much needed new ideas and disruption to reinvigorate the basin.

  • Agenda:

    9:00 Opening remarks from the Chair

    Alan Livsey, Lex Research Editor, Financial Times


    9:05 Keynote Address

    Sir Ian Wood, Chairman, J W Holdings; Chairman, The Wood Foundation; Chairman, Opportunity North East


    9:20 Panel: Clear and present danger? The oil price outlook and the future for oil & gas

    Understanding what the oil price environment really means for the business is essential to ensure the capital and resources are allocated correctly, and that risk is accurately reflected in investment decision making.

    Volatility looks set to continue in the shorter term with oil and gas companies struggling with the vagaries of, by turn, oversupplied and then undersupplied markets. But with higher demand to meet the needs of developing economies in Asia, and decreasing investment following the recent industry downturn, are higher oil prices inevitable? Or will ‘peak demand ‘ come faster than many are expecting as efforts to decarbonise the economy gain ground?

    Session Keynote: Jarand Rystad, CEO, Rystad Energy

    Christine Armstrong, Senior Oil Market Analyst, Energy Aspects

    Cuneyt Kazokoglu, Director of Long-Term Oil Services and Head of Oil Demand, FGE London

    Moderator: Nathalie Thomas, Energy Correspondent, Financial Times


    10:00 Keynote Interview

    Keisuke Sadamori, Director, Energy Markets and Security, International Energy Agency (IEA) in conversation with Alan Livsey, Lex Research Editor, Financial Times


    10:15 Networking Coffee Break


    10:35 Panel: Competition for funding - who has the capital raising edge?

    As the energy transition progresses, financiers and investors face an ever-growing range of energy investment options with widely different risk profiles - from higher- margin capital intensive deepwater oil to short-cycle, cash generating investments in shale to a growing compulsion to invest in the new energies such as renewables and storage which are viewed as the growth industries of the future. The relative returns of these investments will, to a large extent, depend on the scale and pace of the energy transition. A slower transition with sustained demand could prolong the competitiveness of fossil fuel investments, while an accelerated transition could signal their more rapid demise.

    • How will the energy transition unfold, and how will it affect the relative competitiveness of energy investments?
    • Which has the competitive edge - deep water or shale? What are the prospects for the continuing growth of shale? Will gas lose out to the growing competitiveness of renewables and batteries?
    • Can oil and gas companies build sustainable business in the burgeoning new energy field, and will investors support their forays into these lower revenue businesses?

    Kingsmill Bond, Energy Strategist, Carbon Tracker

    Tomás García Blanco, Executive Managing Director of Exploration & Production, Repsol

    Philip Lambert, CEO, Lambert Energy Advisory

    Moderator: Alan Livsey, Lex Research Editor, Financial Times


    11:25-11:40 Next Frontiers in Disclosure

    Nicolette Bartlett, Global Director of Climate Change, CDP in conversation with Nathalie Thomas, Energy Correspondent, Financial Times


    11:40 Panel: Exploring the New Sources of Finance - A New Dialogue with Investor and Financiers

    Faced with increased competition for capital and the prospect of a tightening of traditional sources of bank and balance sheet funding, oil and gas companies are seeking and securing new source of capital. From the creative capital structures of private equity to infrastructure funds focused on the upside potential of midstream assets, and the new possibilities of green finance, both the range and complexity of financing options complexity is growing. With equity funding playing a growing role, meanwhile, oil & gas companies are encountering a new kind of investor more acutely attuned to the potential of climate-related risk to impact the future sustainability of carbon intense industries. Oil & gas companies will have to communicate a compelling business case if they are to keep the capital flowing.

    • What are the emerging finance options and what strategies and these new financier and investors deploying in the oil & gas sector - where do they see the potential for returns?
    • What role are concerns of asset impairment and ‘stranded assets’ playing in their investment decision making?

    Mike Beveridge, Managing Director, Co-Head Eastern Hemisphere Corporate Finance, Simmons Energy | A Division of Piper Jaffray

    Martin Copeland, Managing Director, Head of EMEA Oil & Gas, Global Investment Banking, RBC Capital Markets

    Reinhard Florey, Chief Financial Officer, OMV

    Sylvia van Waveren, Engagement Specialist, Director Active Ownership, Robeco

    Moderator: Alan Livsey, Lex Research Editor, Financial Times


    12:30 -1:40 Lunch


    1:40 Panel: Embracing the Digital Revolution in Energy

    Innovations in IT and technology are enabling vastly increased volumes of date to be gathered, stored and analysed, and the companies that are providing these technologies are holding out some exciting prospects, in terms of increased productivity and reduced costs. But there also seems to be a great deal of scepticism in the industry, both about the current state of data management, and about the potential for more advanced technologies to deliver real benefits. Is there really a digital revolution in energy? And how big an impact could it have?

    Session Keynote: Tom Siebel, Chairman & CEO, C3.ai

    Ian Jones, Co-Founder and Chief Strategy Officer, AMPLYFI

    John Pearson, Chief Operating Officer of Engineering & Production Services, Petrofac

    Moderator: Nathalie Thomas, Energy Correspondent, Financial Times


    2:25-2:35: Keynote Address

    Paul Wheelhouse MSP, Minister for Energy, Connectivity and the Islands, Scotland

    2:35-3:30 Panel: Reinvigorating the North Sea - The role of new players

    Long viewed as a basin in decline, burdened by high costs and falling competitiveness of the North Sea basin is being reinvigorated with investment from a range of innovate, private equity backed E&P companies who are revitalising assets, extending the life of field and bringing the much needed new ideas and disruption needed to shake up the investment prospects of the basin. What are the investment strategies of these ‘new kids on the block’, and how are they breathing new life into the basin? What are the views of these new players on the future prospects, and what needs to happen next to secure the future of the North Sea basin?

    Neivan Boroujerdi, Principal Analyst, North Sea Upstream, Wood Mackenzie

    Chris Boulter, UK Business Development Manager, Neptune

    Roy Kelly, Partner, Kerogen Capital

    Jonathan Roger, CEO, Siccar Point Energy

    Moderator: Alan Livsey, Lex Research Editor, Financial Times


    3:30-3:45 Keynote Interview

    Brian Gilvary, Chief Financial Officer, BP in conversation with Nathalie Thomas, Energy Correspondent, Financial Times


    3:45 Panel: The new risk and investment horizons: The CFO’s perspective

    By virtue of the key role they play in navigating between short and long-term disruptions and ensuring the business remains flexible, resilient and positioned for profitability amidst growing business uncertainty, CFOs provide a unique perspective on where the industry is heading, and the potential strategies to secure continued relevance as the energy transition unfolds.

    • What do CFOs see as the risks and opportunities emerging ahead?
    • How are their resource and capital allocation strategies changing as the risks and investment landscape of the industry continues to evolve?
    • What do our CFOs see as the priorities for ensuring stability and driving growth in the future?

    Mark Cutis, Group Chief Financial Officer, Abu Dhabi National Oil Company (ADNOC)

    Brian Gilvary, Group Chief Financial Officer, BP

    Sean Martyn, Managing Director and Head of Capital Solutions, Baker Hughes a GE Company (BHGE)

    Teitur Poulsen, Chief Financial Officer, Lundin Petroleum

    Moderator: Nathalie Thomas, Energy Correspondent, Financial Times


    4:30 Closing Remarks from the Chair

    Nathalie Thomas, Energy Correspondent, Financial Times


    4:35 End of Forum


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