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Barnett Waddingham
0333 11 11 222
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.

Our main areas of expertise:

Corporate level asset valuation and validation

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Decision analysis - an actuarial approach

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Financial community, investors and counterparties

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Statistical and financial modelling

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Understanding, managing and valuing risks

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Find out more about our Oil and Gas Consultancy services

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Iain Poole, Head of Oil and Gas - Economics and Technical Risk

Iain has over 25 years’ experience as consultant to the Oil and Gas industry, for economics, decision analysis, and risk analysis and management

SEE IAIN'S BIO
Mike Kennedy, Head of Oil and Gas - Pensions

Mike’s client portfolio includes two leading oil and gas clients including Wood Group and KCA. He leads our oil and gas group and is regarded as one of the leading scheme actuaries in Scotland.

See Mike's bio

Related knowledge and resources

Blogs

  • Investment in Oil and Gas: the impact of climate change

    Finding Petroleum held a conference in November anticipating the COP21 Paris climate summit in January 2016. Given the topicality of climate change policies, a glut of oil, and low commodity prices, what impact will these have over the next few decades?

  • CSEM: Is it a silver bullet for explorers?

    Is controlled-source electromagnetics (CSEM) technology the answer to solving the problem of avoiding dry holes? Can it really define oil and gas deposits offshore below and help explorers to pinpoint the sweet spots for exploration and production wells?

  • How important is the ‘significant discovery’ of oil at Horse Hill

    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.

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