PKF is speaking at an international oil and gas Summit in London organized by the Resourceful Events Pty Limited which will take place from 16th June to the 19th June 2014 at the Marriott Hotel Regents Park London in London. The four day event will see a number of keynote speakers such as Neil Gregson¸ Fund Manager¸ JP MORGAN ASSET MANAGEMENT¸ UK¸ Peter Kiernan¸ Lead Analyst¸ Energy¸ ECONOMIST INTELLIGENCE UNIT¸ UK; Jonathan Waghorn¸ Co-Portfolio Manager¸ GUINNESS GLOBAL ENERGY FUND¸ UK and amongst many others ¸ Freddie Lee¸ Director¸ BARCLAYS NATURAL RESOURCE INVESTMENTS¸ UK. The chairman for the first day shall be Stewart Dalby¸ Editor and Director¸ OILBARREL¸ This unique event will tackle current issues in the conventional oil and gas world such as for example :- Understanding the oil and gas sector through the eyes of the expert investor; what is guiding their investments and how do they view the industry’s near term prospects? What are the most significant factors influencing investor appetitive for this industry? Another hot topic is the assessment of political and project risk: What do investors perceive as the biggest risks for current small and mid-cap oil and gas companies?
Speakers will examine a number of driving factors behind supply and demand- such as to what extent could the US energy revolution impact global supply and demand dynamics in the near to medium term?
It is planned to attract a number of high ranking investors with a potential spend of 2.5 billion. In a wider context¸ PKF is gearing up to sow the seeds which will see Malta grow into an offshore oil and gas producer. In a more ambitious stance it wants to attract media attention for investors wishing to turn Malta into a hub servicing the needs of operators requiring maintenance and upgrading of rigs and in particular building of advanced subsea modern structures. It is common knowledge that the massive decommissioning work which is currently being contemplated in the North Sea oil platforms will lead to potential offering of structural work since many assets are reaching the end of their field lives and will require decommissioning. Already we are witnessing a modest growth in repair work on rigs carried out by Freeport ¸and at Palombo Drydocks and more orders are expected in the near future if and when the Marsa ex shipyard is fully privatized. The subject of drilling for oil has been an enigma since the days of the Borg Oliver administration – noting with nostalgia the past 60 years saw few attempts to drill for oil or gas but regretabbly there has been no success. Still there is a feeling of Déjà Vu among islanders that in view of the high costs needed to drill for hydrocarbons¸ some would prefer that the Government ‘goes slow’ on promoting the sector yet continues to put its money where its mouth is…that is¸ supporting the public expenditure including the heavy investment in free healthcare and pensions.
Others disagree and prefer to risk capital on looking for the fabled Black Gold as in the past very little was spared. So let us seriously reconsider the challenge of prospecting together with attracting seed capital to upgrade our repair facilities to service oil rigs etc which if successful can prove to be a panacea. Medserv director Anthony Duncan has said that Malta could well become a “mini North Sea&rdqu