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In response to a recent article, Iain Poole considers dealing with uncertainty in the oil and gas industry and highlights some of the key challenges in terms of general decision making, and in light of the current turbulent environment.
According to The Decommissioning Company, operators in Europe are forecast to spend over £60 billion on decommissioning over the next 30 years.
In a recent survey of over 160 Upstream 'megaprojects', with an average project size of $6.6 billion, EY identified 65% of projects as experiencing cost over-runs, and 78% experienced delays. We look at the inherent uncertainty with large CAPEX projects.
The third quarter of 2015 seems to have brought a stream of shrill headlines from writers about falls in risky assets, an increase in volatility across most asset classes and increasing signs of a significant slowdown in China.
April was unusually interesting for the UK Oil and Gas industry. Shell announced success in their bid to acquire BG Group and UKOG announced ‘discovery’ of reserves of 158 million barrels of oil per square mile at Horse Hill.
Ground-breaking new services will use the principles of actuarial science that are a key part of our existing insurance and pensions business, and apply them to the modelling and analysis undertaken by companies in the oil and gas exploration industry.