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Agenda Overview

Day One Thursday 17th March

8:00 Registration & Breakfast


8:50 Chair’s opening remarks


9:00 Regional upstream analysis: The Americas and Europe
A detailed walk-through of project pipelines and field potential at varying price levels

  • South America
  • Gulf of Mexico
  • North Sea & Mediterranean
  1. Jarand Rystad, Managing Partner, Rystad Energy

9:30 SBM Offshore Saquarema FPSO – financing a big ticket project in a depressed and challenging environment

  • How was the deal structured?
  • Did current market conditions affect the structuring of the deal? If so how was the situation overcome?
  • The situation in Brazil changed dramatically between initiation and completion of this financing – what effect did this have on the deal?
  1. Boudewijn van Schaik, Deputy Group Corporate & Finance Director, SBM Offshore
  2. Jacco Bakker, ING Oil & Gas Offshore Services

10:00 Risk sharing, cost control and diversifying away from traditional senior debt solutions: Optimising FPSO financing structures

  • How will FPSO contractors ensure competitive pricing?
  • The search for the Holy Grail: Can you build consortia to fairly balance risk distribution?
  • Growing capital on the equity and junior debt side: What are the financing options beyond senior debt solutions? Can these options help to further spread the risk involved with FPSO projects?
  1. Koos Frowein, VP Finance and Administration, Bluewater
  2. Knut R. Sæthre, CFO, BW Offshore
  3. Peter van Rossum, CFO, SBM Offshore
  4. Jacco Bakker, ING Oil & Gas Offshore Services (Moderator)

10:45 Refreshment Break

11:30 Seadrill SeaMex financing – The first internationally syndicated loan facility for vessels going on charter to Pemex

  • What was the structure of the deal and how was it arranged?
  • What instruments are in place to ease the fears of the players involved?
  • How can this deal be replicated?
  1. Bjorn Flaate, Head of Energy Scandinavia, ABN AMRO
  2. Sam Terko, ING Oil & Gas Offshore Services

Is debt serviceable at current day-rate levels for the offshore community? How can offshore players deal with the current squeeze on cash flows?

  • Cold stacking vs. retirement: Are reduced cold stacking costs causing more problems than they are solving?
  • What adjustments are offshore companies making to capital structures and funding sources in order to manage through the downturn?
  • What is being done to minimise opex and what effect are these actions having?
  1. Ricardo Rosa, CFO, Subsea7
  2. Frans den Houter, CFO, Heerema Marine Contractors
  3. Peter Boogers, Global Head of Energy Clients, ABN AMRO
  4. Erwin Nederkoorn, Global Head Oil & Gas Offshore Services, ING
  5. Jeff Drake, Director, AlixPartners (Moderator)

12:45 Lunch


14:00 Analysis and interactive discussion of oil price dynamics and their effects

  1. Hugo Diogo, Head of Energy Clients Europe, ABN AMRO
  2. Richard Mallinson, Geopolitical Analyst, Energy Aspects

14:45 How can a highly leveraged and oversupplied OSV segment manage in the present environment with current equity/debt ratios?

  • Analysis of the attrition rate and order-book in the OSV sector; How much does the global fleet need to change and how will it get there?
  • Trading in the spot market, idling, scrapping or selling – what is the best route forward? Do any markets present possible opportunities to keep assets in operation?
  • How do bondholders view OSV paper and what role will they take in the short and mid-term?
  1. Morten Astrup, Founding Partner/CIO, Storm Capital
  2. Roar Tveit, Portfolio Manager, Holdberg Fondene
  3. Ricardo Hatschbach, Director – Sector Origination ECT, ABN AMRO (Moderator)

15:30 The global heads of offshore - Between a rock and a hard place: Starved of bankable projects today and faced with a bond maturity crisis over the coming years, how are the banks planning their strategies for the short and mid-term?

  • The flight to quality: How are banks differentiating themselves when competing for heavily oversubscribed bankable projects?
  • What is the banks’ stance on the ticking time bomb of bonds reaching maturity from 2017 onwards?
  • How are the banks responding to breaches of covenants and requests for contract adjustments?
  1. Peter Boogers, Global Head of Energy Clients, ABN AMRO
  2. Erwin Nederkoorn, Global Head Oil and Gas Offshore Services, ING Offshore
  3. Barbara Gronquist, SVP & Head of Offshore Americas, DNB
  4. Herve Lalli, Commerical Director, SBM Operations (Moderator)

16.15 Refreshment Break sponsored by Societe Generale



16:45 Networking Round Tables Session One – With Coffee and Refreshments break from 17.15 until 17.30
How the roundtables work:
Presentation roundtables are designed as a mixture of content and face to face meetings in groups of no more than 12 people. The speaker has 10 minutes to address the table and 10 minutes to gain feedback, take questions and engage with participants before they move onto the next table. Table facilitators will remain on their assigned tables and introduce the host and discussion topics. Round Tables will feature several speakers from elsewhere in the conference, allowing delegates to develop discussion points raised in other panels and presentations.

  • Operational Restructuring – Streamlining companies and maximising cash flows
  1.  Jeff Drake, Director, AlixPartners
  • The ‘marinization’ of FLNG tech – uptime and offloading capability
  1. Reese McNeel, CFO, Sevan Marine 

 

  •  The Do’s and Don’ts of standardisation and cost efficiency
  1. Arjan van der Laan, CFO, Seaway Heavy Lifting
  2. Peter de Bree, COO, Seaway Heavy Lifting 
  • Get the bondholder perspective
    1.  Morten Astrup, Founding Partner/CIO, Storm Bond Fund
    2. Roar Tveit, Portfolio Manager, Holberg Fondene

 

  • Sale/leaseback as a viable financial solution in the current market
    1. Wilhelm Christian Magelssen, Partner, Project Finance, Pareto Securities
    2. Espen Gjerde, Senior Vice President, Ship Finance International

 

  •  Shipyard/customer co-operation
    1.  Guido Fieret, Director, Customer Finance Solutions, Royal IHC
    2. Robbert Zappeij, Director Customer Finance Solutions, Royal IHC

 

  • Private equity in the offshore
    1. Peter Jackson, Partner, Bain & Co.

OGFAmsterdam '16 - Breakout Sessions
Running at the same time as the networking round tables will be a presentation on the North Sea followed by a presentation on the Mozambique offshore space.

16.45 (Breakout Session) The shifting character of the North Sea: Will a combination of production and decommissioning activities provide sufficient contract opportunities for North Sea players?

  • Is the future brighter on the UKCS or the NCS
  • What are the current investment levels in the North Sea and what is the visibility on future investment
  • How can offshore companies diversify to hedge themselves against a decline in North Sea production activity?
  1. Fraser Weir, Netherlands Operated Assets Director, Centrica Energy


17.30 (Breakout Session) Mozambique under the microscope

  • What are the opportunities for offshore contractors in Mozambique?
  • As companies run into trouble with local content and tax regulations in other African markets, what do contractors need to be aware of in Mozambique?
  • What is the financial community’s opinion on backing projects in Mozambique?
  1. Paul Eardley-Taylor, Head of Oil & Gas, Southern Africa, Standard Bank

18:00 Drinks Reception


Day 2 Friday 18th March


9:00 Regional upstream analysis: Africa and Asia
A detailed walk-through of project pipelines and field potential at varying price levels

  • West Africa
  • East Africa
  • India
  • S.E. Asia
  1. Jarand Rystad, Managing Partner, Rystad Energy

9:30 The role of the ECAs in a period characterised by increased risk and restructuring

  • How do ECAs deal with proposed amendments and debt restructurings?
  • What happens in the event of a breach of covenant – will ECAs act pre-emptively to prevent such a scenario?
  • How will ECAs help exporters to find new markets and contracts across the world?
  1. Solveig Froland, Director, GIEK
  2. Victor Hoek, Head of Project Finance, Atradius Dutch State Business
  3. Olav Einar Rygg, Director of Shipping & Offshore, Export Credit Norway
  4. Han Jae Ha, Deputy Director - Offshore Team - Maritime Finance Department, K-SURE


10:30 Refreshment Break


11:00 What have we seen so far in Brazil and what can we expect in the future? Is the position of Petrobras as a lead investor in offshore gone for good?

  • What next for Brazil and Petrobras?
  • The impact of the reduced Petrobras investment and the government’s drive for ‘Brazilianization’ of the O&G sector
  • What rights do companies and financiers have in the event of contract termination?
  1. Mark McHugh, Co-Founder & Managing Director, OFSCapital

11:30 Creating hybrid project finance/reserve based lending structures to finance stranded asset production developments as O&G corporates face-up to sinking credit ratings increasing counter-party risk

  • How can reserve-based lending be incorporated into traditional project financing?
  • The merits of reserve-based lending vs. project finance in FPSO projects
  • As oilfield acquisitions and divestitures rise will we see an increased need for these hybrid structures?
  • Will reserve-based lending be the future for financing development in new fields or in mature fields
  1. Mark Westley, Managing Director & Head of LNG Shipping & Offshore, Societe Generale
  2. Kevin Price, Managing Director & Global Head of Reserve Based Finance, Societe Generale

12:00 LNG: The next frontier? Can FSRU provide the relief that return-starved financiers are looking for? Is FLNG ready for broad-scale investment and what do financiers need to see in order to enter the sector?

  • Does the trend of LNG shipping companies moving from midstream to upstream players present a new financing opportunity for bankers looking for somewhere to put their money?
  • With an increasing focus on quality management and skills, how are traditional LNG shipping companies changing their staff and corporate make-up to support their move upstream?
  • Has the FSRU market reached maturity and is it still bankable?
  • Will a dearth of bankable offshore projects on offer force financiers to take the plunge with FLNG projects?
  1. Andreas Hagen, Partner, NorthCape Capital 
  2. Jessica Stiefler, Director of Project Finance, Excelerate Energy
  3. Ian Catterall, SVP, Head of Natural Resources, MUFJ
  4. Tim Elliott, Partner, CMS (Moderator)

12:45 Chair’s closing remarks


 

13:30 - 16:30
Post Conference Workshop - CMS Cameron McKenna Contract Masterclass


How can your contracts meet bankability requirements and ensure you are well protected in disputes?  What should your drafting include or avoid?  This workshop examines essential contract provisions commonly used and/or overlooked in the oil and gas industry, with a combination of expert input, case studies and discussion. 

  1. Lindy Patterson QC, Partner, CMS
  2. Jane Fender-Allison, Senior Associate, CMS