Technical risk associated with a particular asset, project, or proposal for financing is often harder to assess, or more uncertain, than the traditional financial risks.
To give confidence, from a financial profession perspective, we can provide an in-depth statistical review and validation of the accuracy of such as:
Working with professionals such as geophysicists, reservoir engineers and petroleum economists, we can undertake thorough, technically competent review of technical asset risk.
Supporting your due diligence process, we can apply actuarial valuation and pricing techniques to give you a fully integrated view of risk, including:
We can also support review of high value proposals such as a Field Development Plan, applying our Validation Framework of questions developed in partnership with industry experts.
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.
Is Competition law having a chilling effect on the Oil and Gas Authority’s (OGA) call to 'Maximise Economic Recovery' from the UK North Sea? The UK’s new OGA has a primary responsibility to implement the recommendations of a report by Sir Ian Wood.
The New York Times published an article on 22nd April, headed ‘New Balance of Power’, claiming that ‘the United States’ is overtaking OPEC as the ‘vital global swing producer that determines prices’. Read more in our latest blog.
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.
Our latest Current Issues in Pensions Financial Reporting newsletter details the key financial assumptions required for determining pension liabilities under the FRS17 (UK non-listed), IAS19 (EU listed) and FAS158 (US listed).
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.