PetroFed organised a half-day seminar on ‘Emerging Investment Environment in E&P’ at New Delhi on April 28, 2008 in knowledge partnership with member company PFC Energy, USA, who has been advising energy companies and Governments across the globe for over two decades.

Inaugurating the seminar Sh. Sarthak Behuria, Chairman, IndianOil & Chairman, PetroFed termed the seminar very timely because globally, the transition from a low oil price world to a high oil price regime has heralded several changes in the E&P sector.  The easy oil has already been found, he said while adding that the recent International Energy Forum dialogue between oil producers and consumers had concluded that though there is enough availability of energy resources, global oil infrastructure would need investments of about US $ 5.4 trillion upto 2030.  The challenge, he said is the deliverability of the energy resources to users at affordable prices in an environmentally sustainable manner.

Earlier, welcoming participants, Sh. A.K. Arora, Director General, PetroFed touched on the shifting paradigm wherein exporting nations are becoming net importers & resource nationalism is being displayed by those in possession of oil.  The increasing price of oil on a sustained basis during the past few years, he said, has dramatically altered all calculations. 

The programme focused on the emerging E&P environment through market forces and Government spending, the impact of rising Government terms and costs on company returns, the impact of rising prices on entitlement production and the future directions in Government terms with a case study on India in comparison to the rest of the world.

The keynote address was delivered by Mr. Michael Rodgers, Partner PFC Energy and a senior member of the firm’s upstream practice.  The other subjects were covered by Mr. Torsten Wucherpfennig, Manager, Asset Valuation and Ms. Gauri Jauhar, Senior Consultant, Strategy & Competition, PFC Energy.

There was a lively and extended question & answer session when Mr. Rodgers and his colleagues freely answered queries.

The programme was summed up by Sh. A.K. Arora, Director General, PetroFed who also proposed a vote of thanks.

Click here to view the presentations and inaugural address.