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Discovery Chance of Success – What are the Odds of Another?

David Finlayson, Chairman of WBC, comments on interesting analysis by Will Forbes of Edison that looks into the chance of success in exploration.  The original analysis, titled “Made a discovery? What are the odds of another?” can be found here. [Read more…]

Oil and Gas Training in Indonesia

Three day oil and gas training course delivered in Jakarta

We welcomed 19 delegates from a Indonesian oil company to a special three day course in Jakarta in August.  Delivered by Colin Marshall, an associate of Warren Business Consulting, the course focused on understanding the key dynamics in the petroleum industry and was based on WBC’s well established “3 Day MBA in Oil and Gas”. [Read more…]

Key Highlights of Africa Assembly 2016

WBC’s Angus Warren and David Finlayson attended the superb Africa Assembly, run by the Oil and Gas Council, in London this week.  The event was well attended by industry and there was lively debate on the state of oil and gas in Africa in 2016.  Below is a summary of the key take-aways from the conference: [Read more…]

First Course for WBC in Jakarta

It was a week of firsts:  WBC’s first course in Jakarta and Colin Marshall delivering his first course as a WBC associate.  The 3 Day MBA in Oil and Gas had  attendees from consultancies, oil companies and service companies. The course ran in February at the excellent Park Lane hotel. [Read more…]

Opportunities & Risks in Iran

Is Iran back in the international oil business? It certainly looks like it, but what are the opportunities and risks for the IOCs and various services supporting the industry? Our guest contributor, Steve Macvicar, editor of Eurasian Business Briefing, takes a brief look at what’s going on in and around the Persian Gulf.

Ever since it became clear late last year that the world powers were ready to relieve Iran of its economic sanctions, a steady stream of high-ranking multinational executives has quietly been trickling into Tehran, intent on re-establishing old ties and forging new ones.

High ranking representatives from the oil industry have been at the front of the queue, including delegations from BP, Shell, Eni, Lukoil and Total, as well as from major contractors to the sector such as Saipem and Mitsui. Iran is back in business, and it seems everyone wants a piece of the action. [Read more…]

45 years in Exploration & Development: Looking back to look ahead

45 Years in Oil & Gas Exploration Cover imageWhat can you learn from 45 years in exploration & development? What will happen to our industry in the next 45 years?

Our Chairman, David Finlayson, takes a look back over his career to make some predictions for the future. It’s a personal and provocative view with some terrific pointers for those currently building their careers in our industry. At a time of change and short term volatility, it’s incredibly helpful to step back and remind ourselves of the longer term perspective.

David’s view of the industry in 2059 is optimistic – but not encouraging for those who assume business will revert to “normal” after the current crisis. More than ever, it will be important to understand the strategic issues shaping the business in order to be able to adapt – both on a business level but also on a personal career level.

Read the full paper here.

Please share your own views on the future and David’s conclusions:

We are also grateful to our friends at SAMI Consulting, Ridgeway Partners and Castor & Partners for adding their perspectives on leadership and careers in the industry in the future.

 

Global Warming Survey Results 2013-2014-2015

Over the last 3 years we’ve had over a thousand responses to our surveys on Global Warming, with 376 for the latest, 2015 survey. My thanks to all who responded, and to our friends at The Oil & Gas Yearbook for distributing it to their readers.

The respondent profile has remained largely consistent, though this year we had a few more professional advisers responding. Overall, it seems that people are increasingly aware of what a problem global warming is, but pessimistic about out ability, or willingness, to act.

In response to a new question in 2015, nearly 60% believe that addressing global warming should be a high priority for oil and gas companies – the same number that see it as a high priority for governments.

I would be interested in your views on what this means for E&P management: do they already see it as a high priority, or do they assume it’s a problem to be solved by governments or elsewhere in the industry?

Please share your views on this survey, or on global warming more generally, in the comments area.

I look forward to hearing from you.

[Read more…]

Three Cheers for UK Politicians on Shale Gas

David Finlayson an associate of Warren Business Consulting, comments on the challenges the UK faces with shale gas exploration. [Read more…]

Why have Investments in E&P Performed so Badly?

Introduction:  There’s a good chance that many readers’ investments in E&P have disappointed in recent years.  Even the super-sluggish Supermajors and mid-sized companies such as BG and Oxy have delivered better shareholder returns (often through nothing more than dividend yield) than small cap E&P.  [Read more…]

Arctic Presents Major Opportunity for Oil Companies – and Challenges

A trip to Greenland* in August brought home to me the enormous opportunity and challenges faced by oil explorers in the Arctic.

Oil has long been produced in the region.  The first onshore wells were drilled in Canada in the Mackenzie River valley in 1920 and since then over 400 oil and gas fields have been discovered in the Arctic.

But the high costs and risks associated with operations has meant that development of Arctic fields has been slow.  The only big offshore Arctic field that is in production is Statoil’s Snohvit gas field in the Norwegian Barents Sea, which had first gas 2007.

[Read more…]

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