North Sea Corporation Tax Uk by ahd55469


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									Gas Operating Opportunities in the North Sea Workshop
October 29, 2008 – Houston, Texas, The Petroleum Club (800 Bell Street)
8:30 a.m. – 2:30 p.m.
Partner Organisation: Texas Alliance of Energy Producers

Tentative Agenda

8.30 a.m.             Registration / Continental breakfast

8:45 a.m.             Welcome Remarks & Overview: North Sea Gas
                      Confirmed Speaker:
                      Pat French, President, Texas Alliance of Energy Producers
                      Azeemeh Zaheer, Vice Consul, UK Trade and Investment

9:00 a.m.             The Gas Basin versus the Rest of the North Sea: Recent Past,
                      Current Performance and Future Opportunity
                      Confirmed Speaker: Jim Hannon, Managing Director,
                      Hannon Westwood

                      A review and commentary on UKCS E&A drilling stats for the past
                      three years by area, play and company sectors, including the Gas
                      Basin and new entrants, with comments on their E&A performance
                      relative to more established players. The talk will also include a look
                      ahead at the level of activity expected in E&A wells in the next two to
                      three years for all areas, including the Gas Basin. It will also comment
                      on the current progression of prospects into developments and their
                      funding requirements and our organisation’s perceived opportunities
                      for investment in the potential resources coming out of this recent and
                      significant increase in E&A drilling activity.

9:25 a.m.             Drilling Challenges Facing Independents
                      Confirmed Speaker: Edward J Davies, CEO, Bridge Resources

                      Smaller operators face many drilling challenges – including getting the
                      attention of drilling contractors. Edward will discuss such issues and
                      share his best practices.

9:45 a.m.             Operator Perspective: Identify best practices in operating
                      existing fields and facilities
                      Suggested Speaker: Marathon

10:05 a.m.            Coffee Break

10:20 a.m.            Contractor Perspective
                      Confirmed Speaker: Chuck Hauf, President, Challenger Minerals Inc.
                      (a Subsidiary of Transocean)
                      Drilling North Sea wells differently so those smaller prospects can be
                      developed economically

10:40 a.m.            Service Company Perspective
                      Confirmed Speaker: James Donovan, Baker Petrolite
                      Production Optimisation/ chemicals – optimisation in gas wells.

11:00 a.m.            Service Company Perspective
                      Confirmed Speaker: Schlumberger
             Use of Flexible/temporary stimulation vessels and their impact on
             improving/enabling the economic development of UK North Sea gas

11.30 a.m.   Keynote Speaker Lunch
             Confirmed Speaker: William Transier, Chairman & CEO, Endeavour

             Given that Endeavour has been successful in the North Sea and plans
             to spend close to $90 million of capital this year to fund oil and gas
             exploration, development and producing activities in the North Sea -
             story would be a great example for other companies to look to for
             advice within the region

1:00 p.m.    Improved Gas Derivability Through Hydraulic Fracturing in the
             Southern North Sea
             Confirmed Speaker: Anthony Martin, Business Development Manager
             for International Stimulation, BJ Services and SPE Distinguished

             Hydraulic fracturing has been described as one of the three most
             significant technologies to be developed in the upstream oil and gas
             industry in the last 50 years (the other two being 3D seismic and
             horizontal wells). However, the traditional approach to hydraulic
             fracturing has been that it is a technology best applied to new wells,
             drilled into low permeability formations. It is true that fracturing has
             been highly successful in this environment - but it is also true that
             fracturing can be both technically and economically successful in a
             very wide range of reservoirs, including depleted, oil and gas assets.
             Various strategies such as skin bypass fracturing, batch fracturing,
             screenless frac-packs, coiled tubing fracturing and neutral density
             proppant fracturing can be combined with complimentary techniques
             for zonal isolation, relative permeability modification and scale
             inhibition, to produce low-cost, high-value solutions for mature assets.

1:30 p.m.    Review of regulations and tax regimes in the North Sea Gas
             Fields / Capital investment requirements for future well

             Discuss the future operating environment and the impact on Southern
             North Sea gas production from a regulatory perspective. Are
             regulations and tax regimes in place that are needed to extend the life
             of Southern North Sea gas fields and to explore and hook up near field
             opportunities? [Companies producing oil and gas from new fields on
             the U.K. Continental Shelf pay a tax rate of 50%, compared to a
             standard corporation tax of 28%.] / The difference with respect to
             economics is clearly related to the remaining reserves, i.e. the low
             value of the remaining reserves that precludes high drilling
             expenditures. Cost reductions in the order of 30 to 40% are required
             to further economically develop the remaining smaller pockets of gas

2.00         New Gas Investment: Unlocking Reserves
             Confirmed Speaker: BG
BG discuss the fact that the early demise of the UKCS has been
overplayed. In fact, this basin has been good for BG and we would
discuss that and then go on to highlight how constructive the Treasury
is being in trying to find a means of unlocking reserves that risk not
being produced; this is being done through their recent consultation.
We would then discuss BG's special interest in HPHT prospects, an
area of high risk but potentially very high reward. We have two very
big recent HPHT finds - Jasmine and Jackdaw - we could refer to plus a
string of HPHT prospects we hope to drill. This presentation would be
more about the investment climate and potential, rather than a
technical presentation.

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