The Upstream Oil and Gas industry has heavy requirements for capital and operating expenditure, and faces unique and complex problems associated with natural uncertainty, unpredictable commodity prices, and the associated operational and financial risks.

The present environment of low commodity prices, rising exploration costs, and constrained access to capital has increased the need for in-depth, accurate and complete analysis of uncertainty, risks and valuation. Many investors and providers of capital have recognised that accurate assessment of the quality of assets, especially hydrocarbon reserves, is inherently difficult, but of key importance.

We bring a variety of actuarial and risk management skills to bear on the problems faced alike by the Upstream Oil and Gas industry, and those who provide finance. Working where needed in tandem with industry professionals such as geoscientists, reservoir engineers and facilities engineers, we can provide in depth analyses for the industry at Project, Portfolio or Company level.

For investors and financiers, we can provide an actuarial and financial perspective to support your valuation and due diligence process, for example reviewing the effectiveness of a company’s risk management strategy. We can give a professional opinion on the statistical assessment of the quality of valuations, assets, Production Forecasts and Field Development proposals. We can also support assessment of insurable risks such as Supply Chain interruption, Country risks or natural hazard, integrating this with review of non-insurable or hedgeable risks to provide a holistic risk assessment.

"To give added confidence to partners in farm-ins or joint venture, mergers and acquisitions, our assessment of the quality of a field development proposal integrates both technical and financial viewpoints, with particular emphasis on the risk profile of an asset, the quality of workflow used to provide results such as production forecasts, and the resilience of project decisions"
Iain Poole Head of Oil and Gas Consultancy

Our main areas of expertise

Corporate level asset valuation and validation

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Decision analysis - an actuarial approach

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Statistical and financial modelling

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Financial community, investors and counterparties

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Understanding, managing and valuing risks

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