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Financial issues surrounding the oil and gas industry are of great importance if expansion plans and opportunities for companies to dispose of assets that are no longer part of their core business area are to be met.

SMi’s seventh annual Asset Acquisitions, Disposals and Swaps conference aims to examine the current situation and issues surrounding the acquisition, swapping and disposal of assets in the oil and gas industry, from raising finances through to developing the reserve itself. It will also explain how to define a strategy for building asset portfolios, considerations on where an organisation should concentrate its resources to ensure a coherent asset acquisition strategy and choose and secure maximum value on the disposal of assets.

The objective is to provide a forum in which those involved within asset acquisitions, disposals and swaps can discuss major issues within an informed environment and share information on the projects and initiatives that are currently being undertaken.

Benefits of Attending
· Understand the opportunities and impediments to A & D projects
· Assess transitional asset portfolio management
· Learn how to balance your portfolio
· Maximise the ingredients for successful acquisitions
· Hear about asset review and valuation

A unique opportunity to learn from leading industry experts including:
Dr Aidan M Joy, Manager, Business Development, Kerr-McGee North Sea (UK)
Ian Smale, Vice President Mergers & Acquisitions, BP
Robert Kimber, Planning & Portfolio Manager, Agip (UK)
Graham Dean, Acquisitions & Disposals & Strategy Manager, Centrica
Torstein Sanness, Executive Vice President, Det Norske Oljeselskap (DNO)
Jonathan Legg, Group Managing Director, Consort Resources

“Good business overview”
“Talks provided great insight to this subject”
“Well organised with a variety of relevant talks”
Previous SMi Asset Acquisitions, Disposals and Swaps conference delegates

Conference programme

8:30 Registration and Coffee

9:00 Chairman's Opening Remarks

David Fassom

David Fassom, Partner & Director, Hannon Westwood Associates

9:10 THE CHANGING FACE OF THE OIL AND GAS INDUSTRY

Ian Smale

Ian Smale, Vice President, Mergers & Acquisitions, BP

  • Challenges: · Returns vs growth · Emerging markets · The role of A & D in portfolio management
  • 9:40 THE EVOLVING POLITICAL AND BUSINESS ENVIRONMENT – IMPACT ON THE GLOBAL ASSET MARKET

    Simon Ashby Rudd

    Simon Ashby Rudd, Managing Director, Waterous and Co

  • Impact of Sept 11th
  • Emergence of the buyers from the East
  • Retreat from growth targets
  • Outlook for the global asset market in 2003
  • 10:20 PORTFOLIO MANAGEMENT, RISK & UNCERTAINTY

    Robert Kimber

    Robert Kimber, Planning & Portfolio Manager, Agip (UK)

  • Assessing project risks and uncertainties
  • Transitional asset portfolio management
  • Business challenges
  • Opportunities and limitations
  • 11:00 Morning Coffee

    11:20 OPTIMISING ASSET ACQUISITIONS STRATEGY

    Graham Dean

    Graham Dean, Acquisitions & Disposals & Strategy Manager, Centrica

  • Assessing strategic alignment
  • Defining the value of the asset
  • Securing competitiveness
  • Negotiating a deal
  • 12:00 A FOCUSED ASSET ACQUISITION PROGRAMME

    Torstein Sanness

    Torstein Sanness, Executive Vice President, Det Norske Oljeselskap (DNO)

  • Selecting company visions and strategy
  • Applying the right technology and staff
  • Balancing your portfolio
  • Get access to licences
  • 12:40 Networking Lunch Sponsored by Waterous & Co.

    14:00 THE ROLE OF A & D

    Jonathan Legg

    Jonathan Legg, Group Managing Director, Consort Resources

  • The story so far
  • Leveraging the portfolio through ongoing A & D
  • Plans for the future
  • 14:40 WHAT IS DRIVING DOWNSTREAM CONSOLIDATION?

    Nic Rigby

    Nic Rigby, Energy Marketing Manager, Trading & Asset Management, Innogy

  • Current state of the European gas market
  • Managing risk in assets
  • Asset optimisation as a service
  • Future opportunities
  • 15:20 Afternoon Tea

    15:40 NORWEGIAN VS UK CONTINENTAL SHELF

    Leif Wollebæk

    Leif Wollebæk, Senior Advisor, PetroAdviser

  • Quantitative analysis of after tax profitability of single and multiple fields at the two continental shelves
  • Differences / similarities of the fiscal regimes
  • Investment considerations
  • Look ahead – will the two fiscal regimes converge in the future?
  • 16:20 PANEL DISCUSSION
    STRATEGIC CONSIDERATIONS IN ACQUISITIONS, DISPOSALS AND SWAPS

    Tom Windle

    Tom Windle, Director, Actis Geoscience

    Robert Kimber

    Robert Kimber, Planning & Portfolio Manager, Agip (UK)

    Simon Ashby Rudd

    Simon Ashby Rudd, Managing Director, Waterous and Co

    17:00 Chairman’s Closing Remarks and Close Of Day One

    8:30 Re-registration and Coffee

    9:00 Chairman's Opening Remarks

    Alan Jowett

    Alan Jowett, Partner, Herbert Smith

    9:10 CROSS-BORDER DEALS

    Doran Doeh

    Doran Doeh , Partner, Denton Wilde Sapte

  • Balancing legal risks against other risks and benefits
  • Risks and costs · Different legal environments · Different kinds of transactions
  • Structuring the documentation
  • Preparing for negotiations
  • Time, money and opportunity
  • 9:40 NON-OPERATED ASSET A & D – THE VALUE GAP

    Andrew Evans

    Andrew Evans, Director, London and Commercial Services, Reservoir Management

  • The acquirer’s story
  • The seller’s story
  • “Have I got the deal for you!”
  • The evaluation
  • The value gap
  • Alternative endings
  • 10:20 CHANGING TRENDS IN NORTH SEA OWNERSHIP

  • Shifting focus of majors
  • Can new entrants take their place?
  • Where will new developments come from?
  • Where will the necessary investment capital come from?
  • How to be a competitive player in the changing market place
  • Stephen Lambert

    Stephen Lambert, Assistant Director, Ernst & Young

    Nick Hooke

    Nick Hooke, Director, Challenge Asset Management

    11:00 Morning Coffee

    11:20 VALUE FROM ACQUISITIONS – FACT OR FICTION?

    Adam Mitchell

    Adam Mitchell, Consultant, Paras Consulting

  • Increase in acquisition spending
  • Decline in exploration development spending
  • Few companies able to replace production organically
  • M & A achieve significant reserves and production growth
  • Value is eroded by the majority of acquisitions as a result of: · Overpaying · Acquiring inappropriate assets · Overestimating reserves
  • Ingredients for successful acquisitions
  • 12:00 PANEL DISCUSSION SHORTENING THE ASSET ACQUISITION TIME SCALE

    Graham Dean

    Graham Dean, Acquisitions and Disposals and Strategy Manager, Centrica

    Doran Doeh

    Doran Doeh , Partner, Denton Wilde Sapte

    Neil Oates

    Neil Oates, Head of Valuations, ECL Scott Pickford

    12:40 Networking Lunch Sponsored by Waterous & Co.

    14:00 THE STRATEGIC IMPLICATIONS OF ACQUISITIONS AND SWAPS

    Tom Windle

    Tom Windle, Director, Actis Geoscience

  • Understanding opportunities and impediments to A & D projects
  • Pre-commitment risk mitigation through strategic analysis
  • Making sense of purpose and objectives
  • Alignment and progress
  • Nurturing the future
  • 14:40 THE ROLE OF TECHNOLOGY IN ACQUIRING AND DIVESTING ASSETS

    Andrew Poon

    Andrew Poon, General Manager, International, IndigoPool

  • Data management & audit
  • Technical uncertainties & risk management
  • Focused marketing
  • Optimising the data room process
  • Archiving
  • 15:20 Afternoon Tea

    15:40 THE ROLE OF THE TECHNICAL ADVISOR

    Neil Oates

    Neil Oates, Head of Valuations, ECL Scott Pickford

  • Asset review and valuation
  • Asset information memoranda (farmout brochure) compliation
  • Advice on how to make best use of dataroom time
  • Identification of key technical drivers
  • The value of an independent viewpoint
  • 16:20 UNDERSTANDING THE POTENTIAL AND CONSTRAINTS OF FACILITIES PERFORMANCE

    Richard Vote

    Richard Vote, Technical Director, Modus Asset Intelligence

  • Facility performance is a major “choke” in production performance
  • Need to strike and maintain balance between performance and costs without any compromise in safety and meeting ever more stringent environmental standards
  • Understand the potential of the asset and the best business response to changed business requirements – opportunities and challenges – invest or rationalise but achieve a positive step change
  • Maximise the potential – remove the uncertainty in investment
  • 17:00 Chairman’s Closing Remarks and Close Of Conference

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