OIL AND GAS INDUSTRY IN A NEW EPOCH

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1 OIL AND GAS INDUSTRY IN A NEW EPOCH SPE LONDON ANNUAL CONFERENCE June 2017, ETC St Paul s 200 Aldersgate Conference Centre CONFERENCE PREVIEW Registration and Lanyards Sponsor Drinks Reception Sponsor Lunch Sponsor

2 2017 Conference Abstract Since the collapse of oil prices in late 2014, petroleum industry players have worked towards reducing costs and increasing production efficiency, whilst coping with a dramatic drop in investments. Following a historic decision towards the end of 2016 by major OPEC and non- OPEC producers to cut production, prices have recovered and a floor price of around USD 50 a barrel appears to have been established after a roller-coaster ride of more than two years. Politically, 2016 was marked by Brexit and victory for the Republican candidate in the US presidential election. As other major economies of the Euro zone go to the polls in 2017, it is to be seen how the global political landscape, as well as energy and environmental policies, will be shaped by the outcome of these elections and what impact they will have on the global economy, petroleum demand and the oil and gas industry in general. Fundamentals of global supply and demand, the swift response of US shale producers to oil and gas price movement, and financing options available to producers will all continue to have their impact on global oil and gas prices as well as investment in exploration and development activities. As oil price volatility reduces, the valuation gap between sellers and buyers/investors is expected to narrow, resulting in increased Acquisition and Divestment activity. By all accounts, 2017 will be an exciting year for the oil and gas industry. As new realities unfold, we will embrace new ideas and adopt new approaches to doing business and transform our industry towards a vibrant, profitable and sustainable future in this new epoch. CONFERENCE PREVIEW

3 OIL AND GAS INDUSTRY IN A NEW EPOCH SPE LONDON ANNUAL CONFERENCE 2017 TOP REASONS TO ATTEND London is at the heart of the global financial sector. Its prime location and investor profile attract international oil and gas companies seeking to raise capital. The SPE London Annual Conference leverages the city s unique position to foster connections between members of the oil and gas community and the financial sector. ENHANCE your knowledge through the four keynote and technical sessions with high-level speakers from the finance and oil and gas industry INCREASE your network by connecting with finance and E&P professionals UNDERSTAND the challenges for monetising assets and solutions presented by both asset owners and financiers EMBRACE new ideas and adopt new approaches to doing business INVEST in yourself and be a part of a selected group of influencers WHO SHOULD ATTEND The conference will be invaluable for the following professionals; Account Managers Asset Managers Business Development Directors CEOs Chief Investment Officers Chief Reservoir Engineers Commercial Directors COOs Economic Directors Equity Analysts Finance Directors Finance Managers Fund Managers Global Account Directors New Venture Managers Partners Petroleum Engineers Subsurface Managers

4 Schedule of events Tuesday 27 June :50 Opening Remarks by Conference Chair 09:00-10:00 Keynote Panel Session 1: Oil and Gas Industry in a New Epoch Moderator: Renu Gupta, Gupta Energy Speakers: Niels Kirk, Managing Director, Global Energy Group, Citi Corporate & Investment Banking, Nikolai Lyngo, SVP Corporate Strategy, Statoil John J. Moon, Ph.D, Managing Director, Morgan Stanley The keynote addresses will look at how the changing global political landscape, environmental policies, investment trends and energy usage are likely to affect the oil and gas industry. They will also discuss economic impact of US shale plays on global supply and commodity prices, and explore how industry players are going to adapt to these changes to transform our industry towards a vibrant, profitable and sustainable future. 10:00-10:15 Coffee Break 10:15-12:15 Session 2: Financing and Valuations Financial Restructuring, Investment Options and Cost Drivers 12:15-13:15 Lunch Session Chairs: Manoj Devashish, Citi Corporate and Investment Banking and Neil Fairnie, Standard Bank Panelists will discuss the challenges of the financing and valuation of E&P companies during a period of sustained low commodity prices; including the options available when faced with financial re-structuring, recent activity in the acquisition & divestitures markets and the pivotal role of private equity. The audience will gain an understanding of the importance of a sound corporate financial footing whilst understanding the attributes that will permit oil & gas development projects to proceed and be viewed favourably by the investment community. The impact of price hedging and costs on project viability will also be discussed. 13:15-15:15 Session 3: The End Game/Mature Provinces (North Sea, West Africa) Session Chairs: Carolina Coll and Madhav Kulkarni, Marathon Oil Operators are confronted with decisions of whether to sell mature assets, invest in the modernisation of the asset, or incur the cost of decommissioning. Mature assets have become strategic acquisitions for low cost operating companies. With the support of the financial sector, that has also moved focus from exploration appraisal stage and pre-development acquisitions financing to mature assets acquisitions, where production exists and value can be quickly be monetised through lower cost production. Mature assets have a long production history with operating infrastructure potentially close to its design life.

5 OIL AND GAS INDUSTRY IN A NEW EPOCH SPE LONDON ANNUAL CONFERENCE 2017 For mature assets, the main risk for economic viability is often related to the aging of the facilities impacting availability and downtime, in addition to well integrity issues such as sand production, erosion, flow assurance, corrosion and lack of production optimisation technologies. Multibillion dollar transactions in the UK mature asset arena during 2016, demonstrate continued interest and economic viability of these assets. On the other hand, West Africa offshore developments have witnessed slowdowns with the lack of financing compounded by lower commodity prices and risk perception. As operations of the mature assets transition to smaller producers, the focus appears to be on optimising field output and opportunities to defer multimillion dollar decommissioning costs. This session focusses on both the opportunities and real world concerns related to mature assets with strategic focus on North Sea and West Africa. 15:15-15:30 Coffee Break 15:30-17:30 Session 4: Technology, Innovation and Project Hotspots in the Upstream World Session Chair: Ramin Lakani, HARPS Holdings Overview of upstream Hotspots in the past couple of years Which companies and countries have made a significant impact despite the challenging environment? Looking ahead, what is likely to be Hot in the next couple of years? This session will look at winning Themes, Technologies, Projects, Countries, Basins and Individuals. As the industry adjusts to the energy prices and activities pick up, we will take a close look at the Hotspots in the Upstream world. There have been signs that exploration activities could pick up and counter cyclic investors might look at new acreage. We will examine technological innovations and project financing ideas that could make a difference in our industry. As always, when there is volatility and uncertainty, there are winners and losers. This session will bring you three speakers to talk about what has been Hot in the past year and what might be even Hotter in the near future. 17:30-18:30 Networking Reception (Timings maybe subject to change)

6 Programme Committee List CONFERENCE CHAIR Renu Gupta, Gupta Energy PROGRAMME COMMITTEE Carolina Coll Manoj Devashish, Citi Corporate and Investment Banking Neil Fairnie, Standard Bank Masud Javaid, BP Madhav Kulkarni, Marathon Oil Ramin Lakini, HARPS Holdings Drew Powell, Gaffney Cline and Associates Mahmood Shafiee, IMechE & Cranfield University Darcy Spady, Broadview Energy Asset Management and SPE President Elect GENERAL INFORMATION HOW TO REGISTER: Visit the event website homepage.html to register online or to download a PDF of the registration form. Questions: formslondon@spe.org VENUE AND TRAVEL: ETC St Paul s 200 Aldersgate Conference Centre, London, EC1A 4HD, England, UK T: ETC St. Paul s venue is conveniently located in the heart of the City, right next to London Wall and the Museum of London. Just 5 minutes from both Barbican and St Paul s tube stations, and 10 minutes from Farringdon and Moorgate. REGISTRATION DETAILS Registration badges will not be mailed in advance. Delegates will be able to pick up badges at the following time: Tuesday 27 June 07:30 If you have any queries, the registration desk will be open throughout the conference

7 OIL AND GAS INDUSTRY IN A NEW EPOCH SPE LONDON ANNUAL CONFERENCE 2017 REGISTRATION PRICES Full Registration Fees Exl VAT (20%) Inc VAT (20%) SPE Member GBP 425 GBP 510 Non-member GBP 525 GBP 630 Students GBP 80 GBP 96 Full conference fee includes: Access to conference sessions, lunch and coffee breaks and entry to the reception on 27 June. CANCELLATION POLICY To receive a 50% refund, all cancellations must be received in writing 30 days before the starting date of the conference. Cancellations made after 30 days prior to 23 May will not be refunded but alternative delegates will be welcomed. Send cancellation requests to formslondon@spe.org. This refund Policy applies to all refunds except in the event that the UK Foreign & Commonwealth Office issues or designates an Advise against all travel travel advisory for London and/or United Kingdom for the dates of the event ( Travel Advisory ). In the event of a Travel Advisory, (i) SPE may, at its sole option, change the location and/or dates of the event ( Relocated Event ) and, (ii) delegates may, at their sole option, request a full refund without penalty or, in the event of a Relocated Event, have the registration transferred to the Relocated Event. In the unlikely case of cancellation of an event by SPE, SPE shall not accept liability for any consequential loss and shall have no liability to reimburse any other costs that may have been incurred, including transport costs, accommodation etc. SPE encourages delegates to take out travel insurance when making travel and accommodation arrangements. ACCOMMODATION Accommodation is NOT included in the registration fee. To find hotels close to the venue, please use this link, VISA INFORMATION Attendees from countries that require a UK visa for entry are reminded that the process of obtaining a visa may take several months. Please formslondon@spe.org to request a visa invitation letter so that you can print and use in obtaining a visa. Please note that this letter does not guarantee that you will be granted a visa, nor does it commit SPE to assist you in obtaining a visa. QUESTIONS? For questions or additional information contact: SPE London Office or formslondon@spe.org.

8 Sponsorship/Exhibiting Opportunities All Standard Sponsors receive the following core benefits: Company logo on signage displayed at the conference in high traffic areas Company logo included in the Conference Programme given out to all attendees Company logo on the event website with a link to your company website Company logo displayed on signs in the registration area Company logo on the PowerPoint sponsor page displayed between technical sessions and during coffee breaks Sponsorships are offered on a first come basis. For a detailed list of available sponsorships, including benefits and pricing, please contact Dean Guest at dguest@spe.org

SPONSORSHIP INVITATION

18TH ANNUAL TAX PLANNING STRATEGIES U.S. AND EUROPE HOTEL OKURA AMSTERDAM USA Branch SPONSORSHIP INVITATION CONFERENCE INFORMATION ABOUT THE CONFERENCE The annual U.S. and Europe Tax Planning Strategies