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The 7th Annual Ingenix Group Roundtable on Cost Estimation and Analysis of Investment Efficiency in the Russian Oil and Gas Sector.

21.06.2018
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On June 21, in Moscow, the Baltschug Kempinski Hotel played host to the 7th Annual Ingenix Group Roundtable on Cost Estimation and Analysis of Investment Efficiency in the Russian Oil and Gas Sector. This time, the focus of the experts' attention was the effectiveness of the participants in the Russian oil and gas industry, as well as its dynamics, factors of influence and evaluation methods.

The Russian oil and gas industry is going through difficult times. "Average" oil prices, and restrictions on the participation of Western companies in financing and production activities in the Russian oil and gas sector, have created a new landscape where all players of the market, from the State and subsoil users to service companies and banks, have had to redefine their roles and effectiveness. 

During the event, participants, among other activities, tried to find answers to the following questions:

  1. The comparative attractiveness of the Russian oil and gas sector compared to that in the West. Is there still a devaluation effect? Is the Russian market attractive for domestic and foreign investors? What are the dynamics of capital expenditure in the industry?
  2. Changes in the government's perception of its role in the industry. Is there a need to adjust regulatory mechanisms? How does the government assess the investment potential of the industry, as well as the importance of import substitution?
  3. The dynamics of the efficiency of subsoil users. What conclusions can be drawn from the current situation? Have any new cost management mechanisms appeared? Is there a potential for new upstream investment?
  4. The current state of the market for materials and oilfield services. Have there been any new opportunities for competition with Western contractors? Is it possible to increase efficiency in the current situation?  
  5. Project and structural financing in the industry. Portrait of a typical borrower. Does the potential exist for improving the efficiency of lending to the industry? 
Representatives of the largest Russian and foreign companies, scientific centers and government agencies participated in the VII Round Table, among them: The State Reserves Committee, The Federal All-Russian Research Geological Oil Institute, LUKOIL-Engineering, Gazpromneft-NTC, Eurotek-Yugra, Rystad Energy, EY, BP Exploration, Exillon Energy, ENGO Engineering LLC, Kvaerner LLC , Moscow State Lomonosov University and others.

Media support for the event was provided by leading specialized industry publications: "Oil & Gas Journal Russia," "Offshore Russia," and "ROGTEC."

The program of the Round Table was opened by the General Director of Ingenix Group Sergey Chizhikov, who remarked on the main challenges facing the Russian oil and gas industry and presented a new Company project - the Ingenix Group Knowledge Center. Artyom Chen, Senior Analyst at Rystad Energy, discussed the state of the world oil market and possibilities for the development of OPEC, Russia and oil shale companies. 

Event participants paid special attention to a report on the theme "Efficiency Management in the Field of Subsoil use: The Development of a Stock Assessment System and Approval of Design Solutions" by Vera Bratkova, Head of the Monitoring, Analysis and Methodology Department of the State Reserves Committee.

Changes in the government's perception of its role in the industry were shared with the participants of the event by Alexander Kurdin, Research Director of the Fuel and Energy Complex of the Analytical Center of the Russian Government, who spoke about the State's policy to overcome the risks of the oil industry at "average" prices. The first session of the Round Table was concluded with a report from Ekaterina Dubovitskaya, Head of the Technical and Economic Modeling Department at Ingenix Group, with an assessment of the attractiveness of the Russian oil and gas sector for investors.

The issue of the efficiency of subsoil users was discussed in more detail in the report "The OPEX Cost Model. A Platform for Improving Business Efficiency" by the Head of the Cost Engineering Division of Gazpromneft NTC, Lev Pashkevich.


Тема/тэг:  Technical and economical modeling
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