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Barnett Waddingham
0333 11 11 222
Statistical and financial modelling are core skills for the actuarial profession. 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, political risks or natural hazard, integrating this with review of non-insurable or hedgeable risks to provide a holistic risk assessment.

Our Oil and Gas consultancy team can:

  • assist with any aspect of your modelling development, validation and quality control requirements
  • integrate modelling with every aspect of risk analysis and decision analysis, to support a consistent approach across projects and stages
  • integrate modelling with your internal and external reporting, including PRMS and local regulatory compliance
  • assist you to assess the quality and value of potential acquisitions or farm-ins
  • we have specific skills in Stochastic, Econometric and Catastrophe modelling as well as Options and Insurance pricing

Related knowledge and resources


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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.

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    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.

  • Picture for Maximising economic recovery from a chilly North Sea
    Maximising economic recovery from a chilly North Sea

    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.

  • New services for Oil and Gas exploration companies

    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.

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