SPE: Exciting but Challenging Times for Investors in UK Oil and Gas Industry

The Society of Petroleum Engineers London Section (SPE London) today revealed further details of its upcoming conference and exhibition ‘Managing oil and gas portfolios in uncertain markets’, which will explore the complex nature of the UK oil and gas industry and how owners, investors and operators can better manage UK portfolios in this climate.

The UK Continental Shelf is a mature oil and gas basin located in a challenging environment. Although the area has been largely explored and production has been in steady decline for over a decade, rival organisations still compete over an estimated 20 billion barrels.

The volatile fiscal policy that defined investment patterns in the first part of the last decade slowed progress to a crawl, but now, a coherent package of fiscal measures are delivering targeted investment incentives to unlock challenging field and incremental projects. This includes the introduction of a novel decommissioning relief deed, which will provide much needed stability to release capital for further investment.

The conference and exhibition will host a dedicated session on UK portfolio management and a series of keynote speakers will explore how these issues are shaping the industry. Participants will hear from senior figures as they discuss their perspective on the impact of the new fiscal package on investment, as well as the Access to Infrastructure working group.

Simon Toole, Head of Licensing Exploration & Development, DECC will discuss incentivising marginal projects; Mark Tandy, Commercial and Exploration Director, TAQA Bratani, will speak more generally on the opportunities and challenges in the UK and Christopher Coombs, Associate Director, Oil & Gas Lloyds Bank Corporate Markets will provide a financier’s view on the industry.

“These are exciting but challenging times for investors in the UK oil and gas industry,” said Renu Gupta, Chair of the SPE London Conference. “This event will interrogate the issues blocking investment and discuss current and future opportunities. Our keynote speakers are industry leaders and they will undoubtedly lend valuable insight into the developments that will shape the industry for years to come.”