It’s that time of year again, when most of world’s upstream attention is tuned to the end of the year – and as 2014 is rapidly running out, budgets for 2015 are being finalized.
What remains of any budget for this year is being allocated to existing (but also new) opportunities, and the majority of the workforce is thinking about a short break around December’s holidays – or even just the New Year celebration.
We all know January will arrive far too quickly, so now is the time to start planning to attend the annual Global APPEX Prospect and Property Expo, set March 3-5 at its traditional home in the Business Design Centre in Islington, North London, just a stones’ throw from the center of the city.
The state of world’s economy obviously plays a key role in financing of upstream deals and the ability of the E&P companies to fund their international activities, which inevitably includes work program obligations and commitments.
With exploration even more difficult to finance in the present climate – even where companies have enough money to fund their obligation – reducing risk by farm-out, strategic divestment of interest or even just a wish to find strategic partners with complementary expertise leads companies needing to complete an A&D process.
To achieve this, what are sometimes referred to as the “four Rs” are essential to consider when activating a divestment or farm-out process. You need:
- The RIGHT information.
- The RIGHT people.
- The RIGHT way.
- The RIGHT time.
Sounds simple, yes – but many forget how long the process can take and rarely start the process early enough. Independent global farm-out statistics from around 3,000 farm-outs reviewed and tracked over 15 years clearly show that a farm-out takes an average of 12-plus months to complete, so planning and optimizing a project marketing campaign for 2015 should have started by now with obligations in 2015 – or more appropriately, in 2016.
APPEX, now in its 10th year, is just one of the key opportunities in which at least three of the Rs are available in London, all under one roof.
Early registration is advised, particularly if your company’s plans involve exhibiting and presenting project opportunities.
So whether this is your first time or you're coming back for more, please reserve the first week in March to be in London for Global APPEX.
Register before Jan. 2 for the “Early Bird” rate and save up to 30 percent on fees.
Get more information online.