The Energy Institute Young Professionals Network’s (EIYPN) Aberdeen event programme kicked off last week with the discussion topic ‘Mergers and Acquisitions: Shaking Up the North Sea’.
Sponsored by Petrofac, for the third year running, the event was attended by around 100 young professionals, eager to hear the panel of experienced industry professionals discuss the ways in which the market has helped stabilise itself.
The panel comprised of:
- Petrofac’s Roddy McKnight, Senior Vice President, Commercial
- Doug Fleming, Chief Financial Officer, Siccar Point Energy
- Guy Appleton, Finance Director, CATS Management Limited
- Tomas Hvamb, Investment Director, Energy Ventures
- Jon Clark, EMEIA Oil & Gas Transactions Leader, EY
Answering questions from the audience, the experts discussed the various deals that have shaped the Aberdeen business landscape in recent times, highlighting the changing behaviours towards funding and managing assets as a result of a lower for longer oil price environment. Important aspects within the implementation of business mergers were said to be the establishment of a clear direction and goals, the management team being quickly implemented; as well as capturing the best from both companies. As well as mergers and acquisitions within the UKCS, the panel spoke of how we have seen assets move into the hands of new entrants, extending their life.
Roddy McKnight said: “This event provided a great opportunity for young professionals to discuss a very topical issue within the North Sea business environment. The oil and gas industry has worked hard to adapt to the landscape created by the sustained low oil price and as part of this effort the supply chain is thinking differently about delivery. We see innovative and highly collaborative relationships injecting new life into the UKCS.
“Petrofac is proud to support the EIYPN once again this year. Young professionals are at the core of our industry and the topics discussed at this event – along with those that we will discuss in the coming months - highlight that they have a bright career ahead of them, despite the challenges witnessed of late.”
Find out more about the EIYPN