Geopolitical tensions seriously affect the oil & gas and offshore industry. Russia, Iran and Sudan are just a few recent examples. Yet, developments in E&P in challenging jurisdictions continue.
As part of the upcoming Offshore Energy Exhibition and Conference in Amsterdam, the Technical Session: Risks and rewards in challenging jurisdictions analyses various opportunities and restraints in the industry, and discusses contracting, contract management and trade compliance issues, such as sanctions and export controls.
This session will include contributions from Gert Demmink, Partner at Philip Sydney, Nigel Margetson, Lawyer at Margetson Van ’t Zelfde & Co and Jack Spaan, Manager Projects at Jumbo Offshore.
Gert Demmink will discuss the impact of U.S. and EU Sanctions, embargo’s and export controls on daily operations in the offshore industry – providing goods, services, technology and software, for example. Currently, any incremental lifting of sanctions and embargos will have the effect that sanctions still apply, but will gradually disappear but export controls related to strategic items will remain. How will these various and different regimes affect business decisions?
Risk regulation in an EPCI contract
Nigel Margetson currently works as a lawyer in the offshore energy sector. During the session, Margetson will discuss the main risks that an EPCI contractor should be aware of when it brings its Marine Spread into a strange jurisdiction and how those risks can be regulated in an EPCI contract.
Jack Spaan is responsible for all major offshore projects executed by Jumbo. In his presentation, Spaan will share experiences gained in West-Australia. He will explain how challenges – for example in environmental compliance and vessel importation – can be controlled by applying past experience, involvement of local partners and a strict adherence to applicable legislation.
The line-up will be completed by Richard Brakenhof and Alexandra Dumitru, Industry Analyst and Economist at Rabobank, respectively. Brakenhof will analyse the current state of the oil & gas industry. The risk of an ongoing low oil price in 2016 is higher than a recovery of the oil price, therefore cutting costs will remain top priority for the oil services industry in 2016. Dumitru will discuss the direct impacts of the sanctions between Russia and the West have on the Russian economy and country risk.
The Technical Session: Risks and rewards in challenging jurisdictions is organized in cooperation with Development Company Holland North (NHN) and takes place Wednesday the 14th of October between 12.30-14.30 o’clock. Check the full Conference Program (https://offshore-energy.biz/conference/conference-program-1) at Offshore Energy 2015.
Source: Navingo BV