Energy & Utilities Sector

Total Page:16

File Type:pdf, Size:1020Kb

Energy & Utilities Sector ENERGY & UTILITIES SECTOR Global experience With a team of ‘unmatched experts’ that consistently performs at the best possible level £275m INCLUDING A BIT ABOUT US TURNOVER 252 PARTNERS PRINCIPAL 12 200+ #1 ADVISORS TO JURISDICTIONS MOST INNOVATIVE and an international “best friend” firm LAW FIRM 20 OFFICES network 2018 FT Innovative Lawyer Awards FTSE 100 companies 6 UK London, Leeds, Manchester, Edinburgh, COVERAGE IN Glasgow and Aberdeen 21 40+ NORTHERN IRELAND & NATIONALITIES FTSE 100 CLIENTS REPUBLIC OF IRELAND Including BP, National Grid, SSE, with capabilities to speak over 36 THROUGH BEST FRIEND FIRM Diageo, DfT, Sainsbury’s, Barclays & 6 OVERSEAS languages NETWORK. Doha, Hamburg, Muscat, Dubai, GSK Singapore, Hong Kong and a strategic alliance with Hashidate in Tokyo 1020 OUR CORE LAWYERS specialists in 8 different sectors Energy & Transport SECTORS Utilities Financial Health Services Retail & Real Consumer Estate A TRACK RECORD OF FIRSTS IN ENERGY • The largest smart metering deal in Europe • The two largest solar and wind developments in England • The first bio-methane project and the first bio-mass project in the UK • An oil & gas giant’s first global entry back into the renewables market • The only UK government-mandated fund investing in electric vehicles • One of only 2 at-scale carbon capture projects in the UK • Advised the Energy regulator Ofgem, in its policy for the UK’s first offshore transmission rounds Working from 12 offices around the world, we’ve acted in 94 countries for our clients in the last three years. You can rely on us wherever you need an imaginative legal solution to a pivotal business problem. We work with an established group of international best friends to ensure our clients have access to the best advice across a range of jurisdictions. Working independently and also alongside our Preferred Our Business Group teams frequently travel to their Firms, we have built up a wealth of insight and specialist respective jurisdictions and have developed valuable market expertise in all the major jurisdictions. We draw this insights and close relationships both with law firms and knowledge together through our own office network which businesses for the benefit of our clients when they need serve as regional hubs and multi-disciplinary, international local cross-border support. groups which focus on key markets. North America Business Group Africa Business Group Singapore China Business Group . extensive experience of transatlantic . represents businesses that originate from . specialist legal support in international . acts for foreign companies doing business matters in both directions or operate in Africa arbitration, corporate and commercial in China and Chinese companies doing . cover all practice areas and geographical . experience spans traditional sectors transactions, real estate, engineering, business globally regions in the USA and Canada related to energy and resources as well as projects and construction, and insurance . helps clients identify opportunities and . p​rovide an integrated European (and rapidly growing middle-class consumer and reinsurance navigate risks and challenges beyond) solution to North American related markets such as food and drink, . focus of Addleshaw Goddard’s service . provides practical, commercial advice on corporates and professional practices retail, financial services and telecoms delivery in South-East Asia all legal issues . award winning a Doing Business in Africa . an entry point to our regional and tool available international network for clients doing business in the ASEAN region or who have interests elsewhere in the world European Network Dubai South Korea Business Group Hong Kong . strong network of independent European . corporate and commercial, private equity, . long-standing experience of building and . corporate finance – full HK IPO activity, law firms based on frequent collaboration finance and projects (including Islamic infrastructure projects M&A, JVs, divestments and investments on client matters – one lead firm per finance), employment, arbitration and . full service capability through strong local . litigation and arbitration, commercial jurisdiction dispute resolution, real estate and firm relationships contracts, competition, contracts and . discipline based relationships at all levels hospitability and construction and transport . wealth of connections and jurisdictional / employment (contentious and non- e.g. tax to tax, real estate to real estate expertise cultural knowledge contentious) expertise . multilateral network not multiple bilateral . lawyers who are fluent in Arabic . English, Mandarin and Cantonese arrangements . services client investing in UAE and those speakers that use Dubai as a hub for investment in . significant experience of Mainland China the Gulf region matters Central Asia Business Group Qatar Malaysia Business Group Oman . have advised inbound foreign investors . corporate and commercial, banking and . supports clients with in-bound and out- . corporate, banking and finance, projects and domestic businesses operating across Islamic finance, private client, construction, bound Malaysian interests and infrastructure, commercial and dispute the region for many years projects, employment and dispute . long term relationships with Malaysian resolution expertise . full service offering across all practice resolution expertise Government funds . leading bi-lingual Omani and internationally areas and sectors . Qatari qualified legal expertise to advise . works with Singapore and Hong Kong qualified lawyers . conducts business in Russian, Mandarin, directly offices to open up opportunities across the . integrated practice through Addleshaw Cantonese and other languages . deep understanding of Qatar and the wider region Goddard (Middle East) LLP’s association region with Nasser Al-Habsi & Saif Al Mamari law firm UK India Business Group Turkey Business Group Japan . full range of commercial legal services from . supports clients with in-bound Indian . experience in advising Turkish clients and . full service capability through formal offices in London, Leeds, Manchester, interests investors in Turkey alliance with Hashidate Law Office in Aberdeen, Glasgow and Edinburgh . full service capability through strong . close relationships with leading local law Tokyo Preferred Firm relationships firms . advice to Japanese and non-Japanese . wealth of connections and jurisdictional clients knowledge OUR VISION We are a market leader in Energy & Utilities (E&U). When you put together the quality of our people, our impact in the market as demonstrated by our approach to technology and outstanding financials, we are in a good place. However, we believe our E&U offering can be even better. We have a terrific practice, a great client base and a growing presence on the ground in Asia and the GCC. We want to be known in the market for having a truly global presence across E&U, whether based in London, Asia or the GCC. “They give really pragmatic and structured advice. They step into the project manager mode… they're not just lawyers.” CHAMBERS INTERNATIONAL OIL & GAS CAPABILITIES 1 NNPC 8 European IOC on its country entry and potential 19 NOC on the proposed acquisition of producing • US$3.5bn financing of the exploration and acquisition of exploration assets in the Republic gas assets offshore Vietnam including development of licence area OML13. of Equatorial Guinea, including negotiation of the infrastructure and gas sales contracts, from a • on the US$1bn financing of the exploration farm-out and JOA and PSC with the national oil supermajor. and development of licence area OML 65. company. 2 Seven Energy 9 OMV AG on its US$2.65bn acquisition of UK • acquisition of SRL 905 Holding Ltd, which Continental Shelf and Norwegian Continental holds a 60% economic interest in OPL 905, a Shelf petroleum interests from Statoil, including prospective gas field in the Anambra basin. logistics infrastructure and gas supply 11 • on a convertible bond issuance to a mix of agreements. international and local Nigerian investors. 10 OMV Petron on its farm-out to Repsol of a 49% 9 • on its acquisition of an equity interest in Afren interest in four onshore blocks in Romania.. 29 32 Global Energy Resources Ltd. 11 European IOC on the proposed acquisition of a 10 • on various equity fundraisings to raise portfolio of producing assets offshore Norwegian c.US$500m in aggregate from investors. Continental Shelf. • on various matters associated with its 12 European IOC on the divestment of its gas Strategic Alliance Agreement with the exploration and production business in Turkey. Nigerian Petroleum Development Company. • on its interest in Universal Energy Resources 13 Fund on the regulatory framework, PSC Limited, a joint venture company with negotiations and acquisition of an interest in an 1 2 interests in upstream assets onshore Nigeria. E&P licence offshore Kenya. 15 22 6 23 3 Sonangol on various aspects of its successful 14 KazmunaiGas JV with CNPC, and US$3bn 3 24 25 5 bid to secure two operator licences in Iraq for acquisition of producing onshore upstream and 41 8 two green field Oil & Gas concessions. downstream assets. 26 4 PA Resources on the grant of an option relating 15 BG Brazil on farm-out & JOA negotiations 4 to its interests in the republic of Congo to across a number of Blocks on the Barreirinhas Petrogas. Basin. Russian IOC on the proposed farm-in and JOA 5 Bowleven on the sale of its interests in Gabon to 16 27 Perenco. negotiations
Recommended publications
  • OSB Representative Participant List by Industry
    OSB Representative Participant List by Industry Aerospace • KAWASAKI • VOLVO • CATERPILLAR • ADVANCED COATING • KEDDEG COMPANY • XI'AN AIRCRAFT INDUSTRY • CHINA FAW GROUP TECHNOLOGIES GROUP • KOREAN AIRLINES • CHINA INTERNATIONAL Agriculture • AIRBUS MARINE CONTAINERS • L3 COMMUNICATIONS • AIRCELLE • AGRICOLA FORNACE • CHRYSLER • LOCKHEED MARTIN • ALLIANT TECHSYSTEMS • CARGILL • COMMERCIAL VEHICLE • M7 AEROSPACE GROUP • AVICHINA • E. RITTER & COMPANY • • MESSIER-BUGATTI- CONTINENTAL AIRLINES • BAE SYSTEMS • EXOPLAST DOWTY • CONTINENTAL • BE AEROSPACE • MITSUBISHI HEAVY • JOHN DEERE AUTOMOTIVE INDUSTRIES • • BELL HELICOPTER • MAUI PINEAPPLE CONTINENTAL • NASA COMPANY AUTOMOTIVE SYSTEMS • BOMBARDIER • • NGC INTEGRATED • USDA COOPER-STANDARD • CAE SYSTEMS AUTOMOTIVE Automotive • • CORNING • CESSNA AIRCRAFT NORTHROP GRUMMAN • AGCO • COMPANY • PRECISION CASTPARTS COSMA INDUSTRIAL DO • COBHAM CORP. • ALLIED SPECIALTY BRASIL • VEHICLES • CRP INDUSTRIES • COMAC RAYTHEON • AMSTED INDUSTRIES • • CUMMINS • DANAHER RAYTHEON E-SYSTEMS • ANHUI JIANGHUAI • • DAF TRUCKS • DASSAULT AVIATION RAYTHEON MISSLE AUTOMOBILE SYSTEMS COMPANY • • ARVINMERITOR DAIHATSU MOTOR • EATON • RAYTHEON NCS • • ASHOK LEYLAND DAIMLER • EMBRAER • RAYTHEON RMS • • ATC LOGISTICS & DALPHI METAL ESPANA • EUROPEAN AERONAUTIC • ROLLS-ROYCE DEFENCE AND SPACE ELECTRONICS • DANA HOLDING COMPANY • ROTORCRAFT • AUDI CORPORATION • FINMECCANICA ENTERPRISES • • AUTOZONE DANA INDÚSTRIAS • SAAB • FLIR SYSTEMS • • BAE SYSTEMS DELPHI • SMITH'S DETECTION • FUJI • • BECK/ARNLEY DENSO CORPORATION
    [Show full text]
  • Cairn Energy Update
    Cairn Energy Update Producer, developer, explorer Oil & gas 24 July 2017 We refresh our view on Cairn Energy, focusing on key areas of interest for investors already familiar with the company. We examine a number of Price 174.7p valuation approaches for SNE in Senegal, the potential for reserve Market cap £1019m upgrades and exploration value. We believe SNE is an outsized asset and £0.8/US$ assume Cairn seeks to farm-down. This will naturally affect long-term Net cash ($m) at 31 December 2016 335 value upside, but would in our view drive a better balance of asset and Shares in issue 583.2m financial risk. We also examine features of Catcher, Cairn’s cost of capital and look at the Indian tax dispute. After a long period of value stagnation Free float 96% (as cash was invested to develop Catcher/Kraken), coming years could be Code CNE a time when investors see a path to this investment steadily bearing fruit. Primary exchange LSE Our core contingent NAV is 225p/share and our RENAV is 255p/share. Secondary exchange N/A (US$m) Operating Cash from Share price performance Year end Revenues PBT cash flow Net cash financing 12/15 0 (498) (16) 603 (6) 12/16 0 (152) (21) 335 (4) 12/17e 59 (792) (21) 18 0 12/18e 402 107 226 98 0 Note: Figures are as reported. SNE reserves upgrades hinge on upper reservoir The recent SNE-6 well test appeared to show strong connectivity between wells in the upper reservoirs, going some way to settle concerns that the pressure declines % 1m 3m 12m seen in past well testing would be major obstacles to recovery.
    [Show full text]
  • Parker Review
    Ethnic Diversity Enriching Business Leadership An update report from The Parker Review Sir John Parker The Parker Review Committee 5 February 2020 Principal Sponsor Members of the Steering Committee Chair: Sir John Parker GBE, FREng Co-Chair: David Tyler Contents Members: Dr Doyin Atewologun Sanjay Bhandari Helen Mahy CBE Foreword by Sir John Parker 2 Sir Kenneth Olisa OBE Foreword by the Secretary of State 6 Trevor Phillips OBE Message from EY 8 Tom Shropshire Vision and Mission Statement 10 Yvonne Thompson CBE Professor Susan Vinnicombe CBE Current Profile of FTSE 350 Boards 14 Matthew Percival FRC/Cranfield Research on Ethnic Diversity Reporting 36 Arun Batra OBE Parker Review Recommendations 58 Bilal Raja Kirstie Wright Company Success Stories 62 Closing Word from Sir Jon Thompson 65 Observers Biographies 66 Sanu de Lima, Itiola Durojaiye, Katie Leinweber Appendix — The Directors’ Resource Toolkit 72 Department for Business, Energy & Industrial Strategy Thanks to our contributors during the year and to this report Oliver Cover Alex Diggins Neil Golborne Orla Pettigrew Sonam Patel Zaheer Ahmad MBE Rachel Sadka Simon Feeke Key advisors and contributors to this report: Simon Manterfield Dr Manjari Prashar Dr Fatima Tresh Latika Shah ® At the heart of our success lies the performance 2. Recognising the changes and growing talent of our many great companies, many of them listed pool of ethnically diverse candidates in our in the FTSE 100 and FTSE 250. There is no doubt home and overseas markets which will influence that one reason we have been able to punch recruitment patterns for years to come above our weight as a medium-sized country is the talent and inventiveness of our business leaders Whilst we have made great strides in bringing and our skilled people.
    [Show full text]
  • Financing Options in the Oil and Gas Industry, Practical Law UK Practice Note
    Financing options in the oil and gas industry, Practical Law UK Practice Note... Financing options in the oil and gas industry by Suzanne Szczetnikowicz and John Dewar, Milbank, Tweed, Hadley & McCloy LLP and Practical Law Finance. Practice notes | Maintained | United Kingdom Scope of this note Industry overview Upstream What is an upstream oil and gas project? Typical equity structure Relationship with the state Key commercial contracts in an upstream project Specific risks in financing an upstream project Sources of financing in the upstream sector Midstream, downstream and integrated projects Typical equity structures What is a midstream oil and gas project? Specific risks in financing a midstream project What is a downstream oil and gas project? Specific risks in financing a downstream project Integrated projects Sources of financing in midstream, downstream and integrated projects Multi-sourced project finance Shareholder funding Equity bridge financing Additional sources of financing Other financing considerations for the oil and gas sectors Expansion financings Hedging Refinancing Current market trends A note on the structures and financing options and risks typically associated with the oil and gas industry. © 2018 Thomson Reuters. All rights reserved. 1 Financing options in the oil and gas industry, Practical Law UK Practice Note... Scope of this note This note considers the structures, financing options and risks typically associated with the oil and gas industry. It is written from the perspective of a lawyer seeking to structure a project that is capable of being financed and also addresses the aspects of funding various components of the industry from exploration and extraction to refining, processing, storage and transportation.
    [Show full text]
  • Corporate Update January 2021 Pharos Energy / 2 Disclaimer
    Pharos Energy Corporate Update January 2021 Pharos Energy / 2 Disclaimer This presentation has been prepared by Pharos Energy Plc. The presentation does not purport to The Group undertakes no obligation to revise any such forward-looking statements to reflect any be comprehensive and has not been fully verified nor will it be subject to material updating, changes in the Group’s expectations or any change in circumstances, events or the Group’s plans revision or further amendment. The presentation has been provided for information purposes only. and strategy. Accordingly, no reliance may be placed on the figures contained in such forward- looking statements. Forward-looking statements are not guarantees or representations of future Nothing in this presentation or in any accompanying management discussion of this presentation performance. Similarly, past share performance cannot be relied on as a guide to future constitutes, nor is it intended to constitute: (i) an invitation or inducement to engage in any performance. Even if the Group’s results of operations, financial and market conditions, and the investment activity, whether in the United Kingdom or in any other jurisdiction; (ii) any development of the industry in which the Group operates, are consistent with the forward-looking recommendation or advice in respect of the ordinary shares (the Shares) in Pharos Energy plc or statements contained in the presentation, those results, conditions or developments may not be the group of companies of which it is the ultimate holding company (together the Group); or (iii) indicative of results, conditions or developments in subsequent periods. any offer for the sale, purchase or subscription of any Shares.
    [Show full text]
  • Non-Executive Director PROGRAMME
    Non-Executive Director PROGRAMME THE 2018 NON-EXECUTIVE DEVELOPMENT PROGRAMME A practical series covering key NXD issues led by experienced Chairs and NXDs EXECUTIVE SEARCH THE UNIVERSITY OF EDINBURGH BUSINESS SCHOOL | FWB PARK BROWN 1 Contents Introduction ...................................................................................................................1 Session 1: The Audit Committee and Boardroom Dynamics ...................................................................2 Session 2: The CEO–Chair Relationship..................................................................................................3 Session 3: The Challenges for Smaller and Faster Growth Companies from an NXD Perspective ..........4 Session 4: The Remuneration and Nominations Committees ..................................................................5 Programme Directors .............................................................................................7 2NON-EXECUTIVE NON-EXECUTIVE DIRECTOR DIRECTOR PROGRAMME PROGRAMME I am already pencilling into my budget to attend other sessions” – A 2017 Delegate Introduction FWB Park Brown and The As the responsibilities and accountabilities of NXDs intensify, University of Edinburgh so the support, knowledge and experience required of them Business School are delighted also increase. We have designed a practical programme, to announce the second led by experienced Chairs and NXDs, focussing on those key series of The Non-Executive issues of which every NXD should be aware and catering for
    [Show full text]
  • JKX Oil & Gas Plc Annual Report 2014
    JKX Annual 2014 Report Oil plc & Gas JKX Oil & Gas plc Annual Report 2014 JKX Oil & Gas plc, 6 Cavendish Square, London W1G 0PD +44 (0)20 7323 4464 Welcome to our 2014 Report and Accounts. We want to be recognised as one of the leading independent upstream exploration and production companies in central and eastern Europe. The Company’s commitment to Ukraine and Russia is currently being tested with heightened levels of political risk and the commercial uncertainties noted on page 12. The region continues to offer development opportunities in the medium to long term. In the short to medium term, the Company is focusing on maintaining its liquidity by minimising capital expenditure and operating costs in Ukraine and Russia. Inside: Strategic report Governance Overview Board composition 82 Our business – at a glance 4 Corporate governance 84 Market overview 8 Audit Committee Report 92 Performance summary 13 Directors’ Remuneration Chairman’s statement 14 Report 98 Directors’ report – Strategy other disclosures 116 Chief Executive’s statement 17 Strategic priorities 20 Priority 1 22 Priority 2 26 Priority 3 30 Financial statements Performance Independent auditors’ report – Group 122 Performance in 2014 34 Group fi nancial statements 128 Financial review 36 Independent auditors’ Operational review 42 report – Company 171 Principal risks and how Company fi nancial we manage them 48 statements 173 Corporate Social Responsibility 62 JKX Oil & Gas plc Annual Report 2014 2 Strategic report Governance Financial statements 2-79 80-119 120-182 3 Strategic
    [Show full text]
  • Seismic Reflections | 5 August 2011
    1 | Edison Investment Research | Seismic reflections | 5 August 2011 Seismic reflections Confidence in Kurdistan grows Iraq, including the autonomous Kurdistan region, probably has the world’s largest concentration of untapped, easily recoverable oil reserves. Pioneering moves were made into Kurdistan in the 2000s by the likes of Gulf Keystone and Hunt Oil, with considerable drill-bit success. In late July, two important Kurdistan exploration and development deals were announced. These involve Afren acquiring interests in two PSCs with sizeable contingent reserves and a Hess-Petroceltic partnership signing two PSCs for exploration purposes. With increasing production and Analysts improving relations between the regional and Iraqi federal governments, Ian McLelland +44 (0)20 3077 5756 these deals reflect growing confidence in Kurdistan’s potential as a major Peter J Dupont +44 (0)20 3077 5741 new petroleum province. Elaine Reynolds +44 (0)20 3077 5700 Krisztina Kovacs +44 (0)20 3077 5700 Anatomy of the Kurdistan oil province [email protected] 6,000 Kurdistan is located in the North Arabian basin and is on same fairway as the 5,500 prolific oilfields of Saudi Arabia’s Eastern Province, Kuwait, southern Iraq and Syria. 5,000 4,500 The geological backdrop to Kurdistan tends to be simple and is characterised by 4,000 3,500 large anticlinal structures, deep organic-rich sediments and carbonate reservoirs 3,000 mainly of Jurassic to Cretaceous age. Drilling commenced in the region in 2006. So far, 28 wells have been drilled, of which 20 have been discoveries, resulting in A pr/11 Oct/10 Jun/11 Fe b/11 Aug/10 Dec/10 Aug/11 estimated reserves of over 5.8bn boe.
    [Show full text]
  • Description Holding Book Cost Market Price Market Value £000'S £000'S
    DORSET COUNTY PENSION FUND VALUATION OF PORTFOLIO AT CLOSE OF BUSINESS 31 March 2017 Book Market Description Holding Market Value Cost Price £000's £000's UK EQUITIES MINING ACACIA MINING 33,000 147.93 4.502 148.57 ANGLO AMERICAN ORD USD0.54 270,390 2,804.18 12.27 3,317.69 ANTOFAGASTA ORD GBP0.05 74,500 151.50 8.355 622.45 BHP BILLITON ORD USD0.50 436,926 2,401.54 12.395 5,415.70 CENTAMIN EGYPT LTD 226,000 349.07 1.732 391.43 FRESNILLO 35,500 88.20 15.52 550.96 GLENCORE XSTRATA 2,412,543 5,662.91 3.141 7,577.80 HOCHSCHILD MINING ORD GBP0.25 49,000 108.90 2.765 135.49 KAZ MINERALS 53,600 89.80 4.551 243.93 PETRA DIAMONDS 106,900 169.67 1.329 142.07 POLYMETAL INT'L 53,800 514.30 9.945 535.04 RANDGOLD RESOURCES ORD USD0.05 19,250 485.32 69.7 1,341.73 RIO TINTO ORD GBP0.10 (REG) 250,150 2,876.49 32.185 8,051.08 VEDANTA RESOURCES ORD USD0.10 18,500 75.07 8.11 150.04 Total MINING 15,924.89 28,524.69 OIL & GAS PRODUCERS AFREN PLC 218,000 215.93 0 0.00 BP ORD USD0.25 3,948,100 13,177.95 4.5885 18,115.86 CAIRN ENERGY ORD GBP0.06153846153 119,207 236.32 2.048 244.14 NOSTRUM OIL & GAS 17,700 84.36 4.796 84.89 ROYAL DUTCH 'B' ORD EUR0.07 1,642,961 20,190.09 21.945 36,054.78 TULLOW OIL ORD GBP 0.10 188,500 789.92 1.99026 375.16 Total OIL & GAS PRODUCERS 34,694.58 54,658.45 CHEMICALS CRODA INTL ORD GBP0.10 26,995 211.15 35.77 965.61 ELEMENTIS 99,000 130.23 2.899 287.00 JOHNSON MATTHEY ORD GBP1.00 40,357 446.31 30.82 1,243.80 SYNTHOMER 57,665 118.87 4.751 273.97 VICTREX ORD GBP0.01 17,000 111.61 19.02 323.34 Total CHEMICALS 1,018.16 3,087.91 CONSTRUCTION
    [Show full text]
  • UK Bribery Digest
    UK Bribery Digest Edition 14 September 2020 UK BRIBERY DIGEST | EDITION 14 CONTENTS WELCOME Click to continue 1 | UK Bribery Digest Edition 14 | September 2020 Regulatory and enforcement landscape: Guidance released for an effective compliance programme Over the last 18 months we have seen a significant encourage more effective collaboration between key volume of updated compliance guidance being issued players within an organisation. by regulators and enforcement agencies. Whilst these releases are from regulators and As part of their Operational Handbook, the Serious enforcement agencies in different jurisdictions, Fraud Office (SFO) released the ‘Corporate Co- due to the increasingly global reach of white-collar operation Guidance’ in August 2019, and in crime legislation and the increased cross border January 2020, released an updated chapter on the cooperation between enforcement agencies, ‘Evaluating a Compliance Programme’. a multinational corporation would be naïve to focus on a single framework. Instead, most global With little to no warning, in June 2020 the United businesses set a standard which at least meets States Department of Justice (DoJ) also released • Transparency International — Business principles the requirements of all the leading legislation and updated guidance on the ‘Evaluation of Corporate for countering bribery guidance. By way of example of the increasingly Compliance Programs’. This was followed with an global nature of guidance, the latest FCPA Resource • United Nations Global Compact — The ten updated
    [Show full text]
  • International Power’S Solicitors, at 10 Upper Bank Street, London, E14 5JJ
    THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt as to what action you should take, you are recommended to seek your own personal financial advice immediately from your stockbroker, bank manager, solicitor, accountant, fund manager or other appropriate independent financial adviser, who is authorised under the Financial Services and Markets Act 2000 (as amended), if you are resident in the United Kingdom or, if not, from another appropriately authorised independent financial adviser in the relevant jurisdiction. The release, publication or distribution of this document and any other related documentation in jurisdictions other than the U.K. may be affected by the laws and regulations of relevant jurisdictions. Therefore any persons who are subject to the laws and regulations of any jurisdiction other than the U.K. should inform themselves of and observe any applicable requirements. Further information on distribution restrictions is set out in ‘‘Important Information’’. A copy of this document which comprises a prospectus relating to the Ordinary Shares prepared in accordance with the Prospectus Rules made under section 84 of the Financial Services and Markets Act 2000 has been filed with the Financial Services Authority and made available to the public as required by section 3.2 of the Prospectus Rules. A copy of this document is also available for inspection at the registered office of the Company at 85 Queen Victoria Street, London, EC4V 4DP and at the offices of Clifford Chance LLP, International Power’s solicitors, at 10 Upper Bank Street, London, E14 5JJ. Applications will be made to the UK Listing Authority and to the London Stock Exchange for the Existing Ordinary Shares to be re-admitted and the New Ordinary Shares to be admitted to listing on the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange, respectively.
    [Show full text]
  • UKCS Technology Insights
    UKCS Technology Insights April 2019 Unless identified elsewhere, all data is from the OGA UKSS 2017 and 2018 Cover photos: High frequency FWI image – courtesy of DownUnder Geosolutions using Capreolus 3D data from TGS Ocean bottom nodes – courtesy of Magseis Fairfield Riserless mud recovery – courtesy of Enhanced Drilling Carbon composite pipe – courtesy of Magma Global Contents Foreword 5 1. Seismic and exploration 22 Executive summary 6 2. Well drilling and completions 28 Operators’ technology plans 8 3. Subsea systems 34 Existing technologies for MER UK 12 4. Installations and topsides 40 Emerging technologies – MER UK priorities 14 5. Reservoir and well management 46 OGA’s technology stewardship 16 6. Facilities management 52 The Oil & Gas Technology Centre (OGTC) 18 7. Well plugging and abandonment 58 Technology plan feedback 21 8. Facilities decommissioning 64 Conclusions 70 Appendix - Technology spend 72 Image courtesy of Airbourne Oil & Gas Foreword I am pleased to see constant progress in the way our industry is OGTC, MER UK Taskforces and industry sponsors. A small maturing and deploying new technologies for the UK Continental technical team will be established to measure progress on all key Shelf (UKCS). This important effort is being supported by the objectives. Ultimately, these objectives will be followed up and coordinated work of the Oil and Gas Authority (OGA), the monitored through the OGA stewardship to further encourage Technology Leadership Board (TLB) and the Oil & Gas Technology uptake and share best practice. Centre (OGTC). There are huge prizes in reserves growth, production value and, This year’s Technology Insights summarises the rich content of most importantly, safe asset operation and life extension from the UKCS operators’ technology plans, submitted through the OGA use of current and new technologies.
    [Show full text]