Agenda | All times are GMT (UTC +0)

The extraordinary impact of Covid-19 has helped to shine a light on changes already underway in the global energy mix. The falling cost of renewables, political will and public sentiment have all combined to offer a roadmap to a cleaner, lower carbon future. With our industry hitting the pause button during lock-down, many of us have had the opportunity to reflect on how we might embrace the energy transition through new technologies and re-purposing our infrastructure and our supply chains to not only further reduce the impact of our own operations on climate but also to accelerate the broader path to net zero. But, with so much being written and said, how do we best focus our actions to seek to drive the energy transition? In this session, with the help of our expert panel, we will discuss how to assess carbon intensity and explain how beneficial carbon reduction plans can attract investment and improve value for asset holders. We will hear from owners and investors on the conditions for success for investing in low carbon projects, including electrification, hydrogen generation and CCUS linked to oil and gas operations. We will discuss the relative merits of investment credits, carbon pricing , tax and fiscal incentives, government support and legislative protections to create the right investment climate. And we will be left with ideas on concrete actions that we might take to support emerging strategy and policy frameworks that target net zero.

Distressed opportunities, portfolio rationalisation by the majors and a reset of shale’s cost base led to a wave of PE investment in the last downturn. Low operating costs combined with low political risk offered a ‘safe haven’ for Private Equity funding with the expectation of good returns over their typical investment cycle. Most had not exited prior to 2020 and are now faced with a different reality. This session will look at how Private Equity’s perceptions have changed in the past 12 months and how their business models are evolving to meet future challenges. How does the gathering momentum towards net zero carbon and new ESG trends impact their outlook and are they planning to exit or be part of the transition?

Junior and mid-tier oil and gas companies continue to be valued at a deep discount to future cash flow. Whilst low commodity prices and global demand predictions are still far from improving investor sentiment in the near-term, is the sector offering a real bargain for those taking a longer-term view? The session will analyse historical performance and the current zeitgeist that have led to institutions and private investors dramatically reducing their exposure to oil and gas.

Speakers, including from the Americas and Europe, will debate this topic and establish best practices to maximise the chances of attracting equity and mezzanine investment in this shrinking pool of capital allocated to oil and gas. The aim is to give the audience some key takeaways of what works and what is less successful.

Most industry observers agree that the global upstream energy sector is undergoing significant change in what is increasingly being characterized as an Energy Transition. Short-cycle but higher-cost shale has disrupted the global supply picture at the expense of longer-term conventional oil and gas projects. Both economic and non-economic factors are influencing global demand for oil and gas. However, the precise nature of that change – its direction and duration – remains hotly contested. Is the dislocation brought on by Covid-19 purely cyclical or are there secular trends at work as well? How will environmental considerations impact the demand for oil and gas and the supply of investment into the sector? Which basins and geographic regions stand to fare best through the Energy Transition? What opportunities exist amidst the tumult?

Our diverse panel of industry experts discuss how Covid-19 will impact the upstream sector in the near term and offer their longer-term perspectives on how both environmental and economic factors will shape the Energy Transition.

In this session we explore how upstream operations and supply chains, including oil field service companies, are adapting with creative solutions and new partnerships to tackle the current market conditions. Can new technology, digitisation and better collaboration help drive the operational efficiencies required to maintain current production, improve oil and gas profitability and attract investment back to the sector? Where can more cost savings and efficiencies be found? The industry has been through many of these (oil/gas price) cycles but this time it seems that more fundamental change may be needed. How has the pandemic changed thinking around suppliers and inventory management? We will examine how resilience can be built into operating models in this volatile environment, see how this contributes to a more sustainable business and explore whether more radical solutions are needed. We will discuss the challenges that operators and the traditional supply chain are facing and how leaders are innovating to find solutions and drive profitability.

Whilst investment in E&P will need to increase to meet even the most conservative energy demand forecasts, upstream projects face unprecedented uncertainty from oil price, access to capital and most transitional of all, an uncompromising expectation around environmental compliance. The Projects of the Future session will give insights from industry and finance executives into the decisions that need to be addressed by all stakeholders in upstream delivery to improve project resilience, investability and the implications of increasing ESG regulation and sustainability.