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Contact: Jennifer Patitz, +1.962.952.9321,
jpatitz@otcnet.org
RICHARDSON, Texas, U.S.A. (8 April 2004)—OTC's active arena
for 2004 focuses on "Independent Operators—The Future
of the North Sea." It is scheduled for 9:30 a.m. to noon on
Thursday, 6 May during the 2004 Offshore Technology Conference (OTC).
"Historically, the North Sea had large reserves, high production
rates, huge facilities and extensive regulations, which translated
into high investment and operating costs," said Jerry Streeter,
Active Arena Chairman and Vice President of Marketing and Sales
for JP Kenny Inc. "This also meant operators had to have high
well flow rates and large recoverable reserves to justify investment.
Super-majors have changed their focus to look for the next elephant
fields, which leaves small independents with lower operating costs,
and lower ROI and NPV requirements to move into the North Sea and
begin developing remaining fields."
I
Currently, the North Sea is going through the transition of huge
discoveries by majors to smaller finds by independents, similar
to what occurred in the Gulf of Mexico in the '80s and '90s. Can
the lessons learned during the Gulf's metamorphosis be applied to
the North Sea? Will the lessons being learned today in the North
Sea enhance operations in the Gulf? Are current U.K. tax and regulatory
practices friendly to this transformation? Are changes required
before independents can profitably exploit fields in the North Sea
thereby maintaining a healthy U.K. service industry?
Government panelists will discuss tax, licensing, HSE, regulatory
and technology issues being addressed today by the U.K. government
to enhance the investment opportunities for independents, while
industry panelists will relate their company's experience and what
future actions government needs to take, if any, to enhance investment
opportunities in the North Sea.
Will Rowley, Director, Infield Systems Ltd.
John Evans, Inland Revenue Assistant Director, Energy Group, Revenue
Policy International, U.K. Inland Revenue
Mel Fitzgerald, Regional Vice President, Western Europe, Halliburton
Energy Service Group
Thomas J. Morrow, President, Challenger Minerals Inc.
Daniel F. McNease, Chief Executive Officer, Rowan Companies, Inc.
Taf Powell, Head of Offshore Division, Health & Safety Executive
Cameron Stewart, Head of Technology and Innovation, Deputy Director,
Oil and Gas Directorate, U.K. Department of Trade and Industry
Simon Toole, Director of Licensing, Exploration and Development,
U.K. Department of Trade and Industry
Ian Whewell, Deputy Director of Offshore Division, Health &
Safety Executive
For more information about the 35th annual OTC, including the full
technical program and registration, visit www.otcnet.org/2004.
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Founded in 1969, the Offshore Technology
Conference is the world’s foremost event for the development
of offshore resources in the fields of drilling, exploration, production,
and environmental protection. OTC is held annually in May at Reliant
Center at Reliant Park in Houston. For more information, visit www.otcnet.org.
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