DOCSLIB.ORG

NOVA SCOTIA DEPARTMENTN=== of ENERGY Nova Scotia EXPORT MARKET ANALYSIS

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

NOVA SCOTIA DEPARTMENTN=== OF ENERGY Nova Scotia EXPORT MARKET ANALYSIS MARCH 2017 Contents Executive Summary……………………………………………………………………………………………………………………………………….3 Best Prospects Charts…….………………………………………………………………………………….…...……………………………………..6 Angola Country Profile .................................................................................................................................................................... 10 Australia Country Profile ................................................................................................................................................................. 19 Brazil Country Profile ....................................................................................................................................................................... 30 Canada Country Profile ................................................................................................................................................................... 39 China Country Profile ....................................................................................................................................................................... 57 Denmark Country Profile ................................................................................................................................................................ 67 Kazakhstan Country Profile ........................................................................................................................................................... 76 Malaysia Country Profile ................................................................................................................................................................. 85 Mexico Country Profile .................................................................................................................................................................... 93 Norway Country Profile ................................................................................................................................................................. 102 Qatar Country Profile ..................................................................................................................................................................... 111 Saudi Arabia Country Profile ....................................................................................................................................................... 118 South Africa Country Profile ....................................................................................................................................................... 126 United Kingdom Country Profile ............................................................................................................................................... 134 United States of America Profile………………………………………………………………………………………...………….……….…145 DISCLAIMER located on Page 5 and Page 162 Duggan International Group 2017 2 | P a g e prepare Nova Scotian companies by describing Nova Scotia Department of Energy (NSDOE) is mandated to investigate economic opportunities best prospects, partnerships and technology transfer opportunities with WECP participating for Nova Scotia technology developers and supply chain service providers. To assist the companies. WECP companies, in turn, will be educated on opportunities, sales and foreign energy industry, NSDOE commissioned a global market analysis of the energy sectors of World direct investment in Canada. Energy Cities Partnership (WECP) member From the market profiles, several themes are countries. The following cities/countries of the prevalent across the globe: WECP were included in this analysis: Cape Town (South Africa), Luanda (Angola), Calgary . Fossil fuels will continue to play a (Canada), Halifax (Canada), St. John’s (Canada), significant role in the global energy mix. Villahermosa (Mexico), Atyrau (Kazakhstan), . All countries have made a commitment Dammam (Saudi Arabia), Daqing (China), Doha to reduce greenhouse gas emissions (Qatar), Karamay (China), Kuala Lumpur (GHG) by increasing their energy (Malaysia), Aberdeen (Scotland), Esbjerg production from renewable resources. (Denmark), Stavanger (Norway), Perth (Australia) To achieve these goals, all countries will and Houston (USA). need to invest their own money and find private investors to advance innovation, The purpose of this analysis is to prepare and technology and infrastructure to cost inform Nova Scotia companies of export effectively bring renewable energy to opportunities in these countries, and maximize the grid. the relationships of upcoming trade events in . International oil companies and Halifax and abroad. These events include: governments were affected financially Offshore Technology Conference (OTC 2017); by the volatile oil prices. Some May 1-4, Houston, Texas; the European Wave countries, whose energy consumption and Tidal Energy Conference (EWTEC 2017), Aug. relies on other forms of energy such as 27-Sept. 2, Cork, Ireland; and Offshore Europe Australia and Qatar, were more 2017 – Sept. 5-8, Aberdeen, Scotland. insulated. International oil companies and The final events will be held in October 2017 in operators in the supply chain incurred Halifax. The World Energy City Partnership heavy employee layoffs. (WECP) annual general meeting will be hosted . Several international oil companies simultaneously with the Maritime Energy merged and consolidated with other Association’s (MEA) 35th anniversary Core Energy Conference. The WECP steering companies and/or sold assets. New exploration was delayed in favour committee will be bringing a delegation of companies to Halifax to participate in both of life extension of existing proved fields. events. The country profiles in this analysis will Duggan International Group 2017 3 | P a g e . Although, all but one country is the experience of working in foreign languages, experiencing a turnaround in oil and gas country regulations and working with exploration, production is still in decline. government officials. New technology in both products and Today’s political climate may also be favourable services are desperately needed to for Nova Scotian companies. Mexico could be a effectively and efficiently manage both good market for Canada because of the political upstream and downstream operations. tensions with the US, and potential changes to . New technologies are needed in NAFTA. Additionally, the Brazilian government is renewable energy for it to be more cost lowering its local content rules to attract foreign effective over oil, LNG or coal power. investors. South Africa is considered a frontier market by oil and gas companies, yet Nova The information presented in this report was Scotia companies may find niche opportunities sourced from the specified country’s here and less competition from other government and trade association websites, international companies. In renewable energy, trade and industry reports from the US and the Saudi Arabia is issuing requests for proposals in UK government, published research reports, April 2017, with billions in financial backing. news articles and primary in-country contacts. International renewable energy companies are closely following developments in Saudi Arabia. The oil and gas industry is forever changing and Australia, however, may be the prospect with the best prospects for Nova Scotia companies are least potential for Nova Scotia, due not only its based on global and local perspectives. Ranking proximity, but the market slow down. Australia, of countries based on opportunities for Nova nonetheless, is a leader in LNG exports, a Scotia's energy services sector may be difficult gateway to Asian countries. These factors all as providers are varied and the level of export offer opportunities for Nova Scotian companies. preparedness is also diverse. Much of Nova Scotia’s strengths are in subsea technology and Nova Scotia is emerging as a leader in the global services. However, if industry is to grow and tidal energy industry and is home to Canada’s expand, companies need to acquire the latest leading test site for in-stream tidal energy innovations. This could include acquiring devices, the Fundy Ocean Research Center for technology or partnering with external firms to Energy (FORCE). In 2016, Cape Sharp Tidal reach new markets. For SMEs, most often the deployed the largest in-stream tidal turbine (2 best way to first enter a market is to partner with MW) and there are future plans to deploy more another company. The partner should have a turbines in the Bay of Fundy. Nova Scotian new set of skills and product offerings to make a innovation in tidal energy will create stronger co-venture. Another method is to sell opportunities for investment and will advance to or partner with a company that is already the technological development of related doing business in the market. This is especially supplies and services. Australia and Denmark are true for mature and heavily competitive markets in the infancy stages of tidal energy research. with established companies such as Malaysia. As These countries may be an attractive market for well, working with a market distributor or agent exports for Nova Scotia companies involved in will be useful (and in most cases required) for tidal energy. countries where Nova Scotian companies lack In other areas of renewable energy, Nova Scotia Abbreviations: also has the opportunity for technology transfer from
Recommended publications
  • Invest in Canada an Overview Canada: Your Gateway to North America and the World

    Invest in Canada an Overview Canada: Your Gateway to North America and the World

    2017 ELECTRONIC UPDATE INVEST IN CANADA AN OVERVIEW CANADA: YOUR GATEWAY TO NORTH AMERICA AND THE WORLD THROUGH NAFTA, INVESTORS IN CANADA GAIN PREFERENTIAL ACCESS TO A CONTINENTAL MARKET OF OVER US $21 TRILLION (GDP) WITH NEARLY 490 MILLION CONSUMERS EACH DAY, MORE THAN $2.4 BILLION WORTH OF TRADE CROSSES THE CANADA-US BORDER KEY FACTS ABOUT CANADA (2016) Population 36.5 million GDP $2.113 trillion GDP per capita $57,885 Exports of goods and services $628.7 billion Imports of goods and services $676.7 billion Consumer price inflation 1.6% Stock of Foreign Direct Investment in Canada $825.7 billion Stock of Canadian Direct Investment Abroad $1,049.6 billion Sources: Statistics Canada and International Monetary Fund. INVEST IN CANADA WHERE WE DELIVER BEST BUSINESS ENVIRONMENT IN THE G20 According to recent rankings from both Forbes1 and US News,2 Canada is the best country in the G20 for establishing business operations, and the Economist Intelligence Unit asserts that Canada is expected to be the second best country in the G7 for doing business over the next five-year period, from 2017 to 2021.3 Canada also holds the distinction of being the easiest location in the G20 to start a business, with the process requiring only two procedures and less than two days, according to the World Bank.4 For investors, Canada’s high global rankings demonstrate an environment that nurtures business growth. 1 Forbes.com LLC. Best Countries for Business 2017. 2 US News. Open for Business Rankings 2017. 3 Economist Intelligence Unit. Business Environment Rankings, 2017.
  • Energy China Forum 2019 9Th Asia-Pacific Shale Gas & Oil Summit 25-27 September, 2019 | Shanghai China

    Energy China Forum 2019 9Th Asia-Pacific Shale Gas & Oil Summit 25-27 September, 2019 | Shanghai China

    Energy China Forum 2019 9th Asia-Pacific Shale Gas & Oil Summit 25-27 September, 2019 | Shanghai China Opportunities in China Shale Gas & Oil OPPORTUNITY IN CHINA SHALE GAS & Oil MARKET As a fast growing market, China shale gas & oil industry has been proved with great resource potential, high government support and increasing drilling and fracturing operations, which makes the market full of opportunities for global technology, equipment and service providers. • Abundant shale resources: China is currently the 3rd largest shale gas producer in the world with a top reserve of 30 tcm. Meanwhile, China has nearly 100 billion tons of shale oil(tight oil) resources. • Highly valued and supported by the government: The country requires vigorous enhancement of domestic oil and gas development and formulate various supportive policies for shale development. • Surging production – It is the two most critical years of 2019-2020 for China to achieve its ambitious 5 years shale gas production target of 30 bcm. • Increasing capital investment: Both CNPC and Sinopec are increasing investment and expenditure with total expenditure for E&P of 216.1 billion CNY in 2018, up by 12% yoy. They are expected to stay high investment in 2019-2020 despite the market fluctuation. • Increasing operations - Starting from 2018, CNPC and Sinopec were accelerating their shale gas production. CNPC plans to drill 6,300 shale gas wells in total during 2018-2035. Sinopec plans to drill around 700 shale gas production wells during 2019-2020. • Cost/efficiency orientation – Chinese shale players are more eager than ever looking for cost-reducing and efficiency-optimizing solutions.
  • Summary of Solvency Report

    Summary of Solvency Report

    Summary of Solvency Report China Pacific Insurance (Group) Co., Ltd. 2020 Interim Contents I. BASIC INFORMATION .........................................................................................1 II. GROUP OWNERSHIP STRUCTURE AND CHANGES TO MEMBER COMPANIES ........1 III. KEY INDICATORS ..............................................................................................1 IV. ACTUAL CAPITAL ..............................................................................................1 V. REQUIRED CAPITAL ...........................................................................................2 VI. MATERIAL EVENTS ...........................................................................................2 VII. GROUP SPECIFIC RISKS……………………………………………………………………………………..2 I. Basic information (1) Registered address: 1 Zhongshan Road (South), Huangpu, Shanghai, PRC. (2) Legal representative： KONG Qingwei (3) Business scope Invest in controlling stakes of insurance companies; supervise and manage the domestic and international reinsurance business of the insurers under its control; supervise and manage the investments by the insurers under its control; participate in international insurance activities as approved. (4) Contacts for solvency information disclosure： Contact person：HUANG Danyan Office number: +86-21-33968093 Email address：[email protected] II. Group ownership structure and changes to member companies Please refer to our 2020 Interim Report for detailed information. III. Key indicators As at the end of As at
  • Canada's Robotics Industry

    Canada's Robotics Industry

    CANADA’S ROBOTICS INDUSTRY With a 35% annual growth CANADA’S POSITION IN THE GLOBAL in robot orders from 2010-2015, Canada leads ROBOTICS VALUE CHAIN the North American rise The global robotics market is experiencing a push among large manufacturing, oil & gas, strong upswing in demand, with 2014 seeing automotive and electronics companies in in demand for robots, global robot sales increase by 29% (YoY) to Canada to reduce manufacturing labour with strong growth in the 229,261 units–by far the highest level ever costs has resulted in venture capital-funded recorded for one year.2 The automotive and start-up investments in Canada, and automotive, Unmanned electronics industries are the main drivers investments by key foreign companies in of this growth. Growing global demand for the Canadian marketplace. Canadian and Aerial Vehicle (UAV) and silicon-based products such as in-vehicle foreign robotics companies are also currently space segments1 electronics, together with new production working with the Canadian Armed Forces technologies, have brought about an (CAF), with increasing use of robots by first increased need for flexible automation and responders, within law enforcement agencies boosted investments in retooling of factories and on projects such as nuclear automation in these industries. and space exploration. In other sectors, such as distribution and Foreign investment in the robotics sector defence, bandwidth growth and command has seen a steady upswing in Canada, with & control capacity have resulted in new global incumbents such as ABB, Amazon delivery methods–leading to increased and General Electric making sizeable robot sales in these sectors. Health care is investments for their robotics divisions another sector which is seeing innovative in this country, paralleling the efforts of advances and an increased demand for local Canadian innovators such as MDA, Robotics is the branch of mechanical engineering, medical/assistive robots.
  • Technip Awarded a Services Contract for a Hydrodesulphurization Unit in Germany

    Technip Awarded a Services Contract for a Hydrodesulphurization Unit in Germany

    Technip awarded a services contract for a hydrodesulphurization unit in Germany December 7, 2007 Paris, December 7, 2007 Technip has been awarded by Total an engineering, procurement and construction management (EPCM) services contract, worth approximately €90 million, for a new kerosene hydrodesulphurization* unit. This unit will be built in the Leuna refinery, located near Leipzig, Germany. The contract covers the implementation of a new hydrotreating unit at low pressure. The unit will produce 120 tons per hour of kerosene and light diesel oil, in compliance with the German light heating oil sulphur specification of 50 parts per million. Technip's operating center in Düseldorf (Germany) will execute the contract, which is scheduled to be completed in October 2009. This award marks a new step in the collaboration between Technip and Total in Germany, for whom Technip has already carried out the basic engineering for this project and is currently performing engineering, procurement and construction services in the Leuna refinery. _______ * Hydrodesulphurization is a catalytic refining technology consisting in extracting sulphur contained in a petroleum product either to protect downstream unit catalysts or to maintain sulphur content at the level prescribed by the European norm intended to reduce transportation-related air pollution. * * * With a workforce of 22,000 people, Technip ranks among the top five corporations in the field of oil, gas and petrochemical engineering, construction and services. The Group is headquartered in Paris. The Group's main operating centers and business units are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the USA, Brazil, Abu-Dhabi, China, India, Malaysia and Australia.
  • Chapter 4 Tectonic Reconstructions of the Southernmost Andes and the Scotia Sea During the Opening of the Drake Passage

    Chapter 4 Tectonic Reconstructions of the Southernmost Andes and the Scotia Sea During the Opening of the Drake Passage

    123 Chapter 4 Tectonic reconstructions of the Southernmost Andes and the Scotia Sea during the opening of the Drake Passage Graeme Eagles Alfred Wegener Institute, Helmholtz Centre for Marine and Polar Research, Bre- merhaven, Germany e-mail: [email protected] Abstract Study of the tectonic development of the Scotia Sea region started with basic lithological and structural studies of outcrop geology in Tierra del Fuego and the Antarctic Peninsula. To 19th and early 20th cen- tury geologists, the results of these studies suggested the presence of a submerged orocline running around the margins of the Scotia Sea. Subse- quent increases in detailed knowledge about the fragmentary outcrop ge- ology from islands distributed around the margins of the Scotia Sea, and later their interpretation in light of the plate tectonic paradigm, led to large modifications in the hypothesis such that by the present day the concept of oroclinal bending in the region persists only in vestigial form. Of the early comparative lithostratigraphic work in the region, only the likenesses be- tween Jurassic—Cretaceous basin floor and fill sequences in South Geor- gia and Tierra del Fuego are regarded as strong enough to be useful in plate kinematic reconstruction by permitting the interpretation of those re- gions’ contiguity in mid-Mesozoic times. Marine and satellite geophysical data sets reveal features of the remaining, submerged, 98% of the Scotia 124 Sea region between the outcrops. These data enable a more detailed and quantitative approach to the region’s plate kinematics. In contrast to long- used interpretations of the outcrop geology, these data do not prescribe the proximity of South Georgia to Tierra del Fuego in any past period.
  • Speaker Bios

    Speaker Bios

    Safety30 Speaker Bios Matt Abraham HSE Director, Oil & Gas UK No bio Rebecca Allison Asset Integrity Solutions Centre Manager, The Oil & Gas Technology Centre Rebecca is a highly driven and motivated Senior Manager with more than 20 years of experience in the oil and gas sector working for various service companies such as Lloyd’s Register, Aker Solutions and Stork. As manager of the Asset Integrity Solution Centre within the Oil & Gas Technology Centre, Rebecca is responsible for leading the Asset Integrity team to identify and appraise the relevance, readiness and accessibility of existing technology in the market place to meet mature basin asset integrity challenges. She is specifically charged with identifying specific technology gaps that remain in asset integrity through designing and delivering programmes to resolve these gaps. Mario Alonso Digital Solutions Product Leader - Subsea Production Systems & Service, Baker Hughes, a GE Company Mario is a digital solutions product leader at Baker Hugues, a GE Business. He is responsible for the digital solutions portfolio within Subsea Production Systems and Services, and has been focused on development of digital analytics applications for the last 13+ years. Mario has an engineering background and hold a PhD in Multi-Phase Fluid Dynamics. He is a chartered engineer and member of the Institution of Mechanical Engineers. Zev Arnold Executive, Accenture Zev is an executive in Accenture's Industry X.0 Practice and a real-time applications practitioner. In his career, he has helped his clients make improvements in operational performance and integrity, and helped secure their license to operate. He has specialized in real-time infrastructure and analytics, working with the Integrated Operations initiatives of several multinational oil and gas operating companies.
  • Removing Barriers for Deployment Through Policy Development; the UK Case Study

    Removing Barriers for Deployment Through Policy Development; the UK Case Study

    3rd International Conference on Ocean Energy, 6 October, Bilbao Removing barriers for deployment through policy development; the UK case study. 1 O H. Wragg 1 RenewableUK, Greencoat House, Victoria, London, UK E-mail: [email protected] Abstract and carbon emission reduction. In the UK this came firstly from the European Renewable Energy Systems This paper will provide an overview of the directive [1] and secondly through the UK Climate current state of the UK marine energy industry, Change Act [2]. covering installed capacity to date, planed projects The two further key pieces of UK primary and development scenarios up to 2020. Reference legislation that have subsequently be established are the will be made to the development of RenewableUK’s Renewables Obligation [3], which provides the UK’s renewable Energy Database. revenue support mechanisms for renewable energy, and This paper will also outline the major the Marine and Costal Access Bill [4], which will recommendations form RenewableUK’s response to develop a clearly defined system for planning and the UK Marine Energy Action Plan and how this licensing commercial activities within the UK’s could facilitate development. Particular attention renewable energy zone[5]. will be made to: The UK Government has also produced several key • How the secondary legislation arising from the documents within the past year. In 2009 the Marine and Coastal Access Bill will impact the Department of Energy and Climate Change published industry. the Renewable Energy Strategy [6] and the Department • The current status of the UK funding landscape for Business Innovation and Skills launched the Low and possible development pathways.
  • The Geopolitics of the Global Energy Transition Lecture Notes in Energy

    The Geopolitics of the Global Energy Transition Lecture Notes in Energy

    Lecture Notes in Energy 73 Manfred Hafner Simone Tagliapietra Editors The Geopolitics of the Global Energy Transition Lecture Notes in Energy Volume 73 Lecture Notes in Energy (LNE) is a series that reports on new developments in the study of energy: from science and engineering to the analysis of energy policy. The series’ scope includes but is not limited to, renewable and green energy, nuclear, fossil fuels and carbon capture, energy systems, energy storage and harvesting, batteries and fuel cells, power systems, energy efficiency, energy in buildings, energy policy, as well as energy-related topics in economics, management and transportation. Books published in LNE are original and timely and bridge between advanced textbooks and the forefront of research. Readers of LNE include postgraduate students and non-specialist researchers wishing to gain an accessible introduction to a field of research as well as professionals and researchers with a need for an up-to-date reference book on a well-defined topic. The series publishes single- and multi-authored volumes as well as advanced textbooks. **Indexed in Scopus and EI Compendex** The Springer Energy board welcomes your book proposal. Please get in touch with the series via Anthony Doyle, Executive Editor, Springer ([email protected]) More information about this series at http://www.springer.com/series/8874 Manfred Hafner • Simone Tagliapietra Editors The Geopolitics of the Global Energy Transition Editors Manfred Hafner Simone Tagliapietra Fondazione Eni Enrico Mattei Fondazione Eni Enrico Mattei Milan, Italy Milan, Italy ISSN 2195-1284 ISSN 2195-1292 (electronic) Lecture Notes in Energy ISBN 978-3-030-39065-5 ISBN 978-3-030-39066-2 (eBook) https://doi.org/10.1007/978-3-030-39066-2 © The Editor(s) (if applicable) and The Author(s) 2020.
  • The Dragon Returns: Canada in China's Quest for Energy Security

    The Dragon Returns: Canada in China's Quest for Energy Security

    China Papers No. 19 The Dragon Returns: Canada in China’s Quest for Energy Security Wenran Jiang October 2010 Canadian International Council Conseil international du Canada www.onlinecic.org www.cicenligne.org China Papers No. 19 About the Author Dr. Wenran Jiang is Mactaggart Research Chair, founding Director of the China Institute (2005-2008) and Associate Professor of Political Science at the University of Alberta. He is a Senior Fellow at the Asia Pacific Foundation of Canada (APF Canada), Special Advisor on China to the Energy Council, Editorial Board member of Geopolitics of Energy, a Public Policy Scholar at the Woodrow Wilson International Centre for Scholars in Washington D.C. (September 2009–March 2010) and Project Leader of the Annual Canada-China Energy and Environment Forum (since 2004). Dr. Jiang has written extensively on the rise of China and its impact on the Chinese political economy and the rest of the world, with a major focus on the shifting balance of power in the global economy, international finance and energy and resource sectors. Dr. Jiang is also a Bloomberg- Businessweek online columnist, and his op-ed articles and opinions on East Asia and energy issues appear regularly in the Canadian and world media. He is currently completing a book on energy security and Chinese foreign policy. Acknowledgements The author would like to thank the CIC and APF Canada for their generous support. Yuen Pau Woo provided much needed guidance as the team leader of this report. Ron Richardson did a great job in editing the manuscript. Thomas Adams provided not only coordination throughout the project but also research and editorial assistance.
  • Prospective Decommissioning Activity and Infrastructure Availability in the UKCS

    Prospective Decommissioning Activity and Infrastructure Availability in the UKCS

    NORTH SEA STUDY OCCASIONAL PAPER No. 122 Prospective Decommissioning Activity and Infrastructure Availability in the UKCS Professor Alexander G. Kemp and Linda Stephen October, 2011 DEPARTMENT OF ECONOMICS ISSN 0143-022X NORTH SEA ECONOMICS Research in North Sea Economics has been conducted in the Economics Department since 1973. The present and likely future effects of oil and gas developments on the Scottish economy formed the subject of a long term study undertaken for the Scottish Office. The final report of this study, The Economic Impact of North Sea Oil on Scotland, was published by HMSO in 1978. In more recent years further work has been done on the impact of oil on local economies and on the barriers to entry and characteristics of the supply companies in the offshore oil industry. The second and longer lasting theme of research has been an analysis of licensing and fiscal regimes applied to petroleum exploitation. Work in this field was initially financed by a major firm of accountants, by British Petroleum, and subsequently by the Shell Grants Committee. Much of this work has involved analysis of fiscal systems in other oil producing countries including Australia, Canada, the United States, Indonesia, Egypt, Nigeria and Malaysia. Because of the continuing interest in the UK fiscal system many papers have been produced on the effects of this regime. From 1985 to 1987 the Economic and Social Science Research Council financed research on the relationship between oil companies and Governments in the UK, Norway, Denmark and The Netherlands. A main part of this work involved the construction of Monte Carlo simulation models which have been employed to measure the extents to which fiscal systems share in exploration and development risks.
  • Centrica Energy, Exploration and Production Asset Book 2014

    Centrica Energy, Exploration and Production Asset Book 2014

    Exploration and Production Asset Book 2014 Contents Introduction 3 Our story so far 5 Our business outlook 7 Regional overview 9 UK & the Netherlands 11 Norway 25 Canada 33 Trinidad and Tobago 41 Glossary 46 Centrica Energy Asset book 2014 Introduction Centrica Energy Asset book 2014 Introduction 3 4 Our E&P story started in the East Irish Sea with the discovery of the Morecambe Bay gas field in 1974 by John Bains. As Centrica Energy’s sole asset at the time of the company’s birth in 1997, the Morecambe operation was the springboard for our growth into what is Safety now an E&P business producing 230mboe/d across five countries on both sides of the Atlantic. Over 1,700 of my colleagues work every day with the united purpose to make our business aspirations a reality, delivering energy not just for today but well into the future. We are united by a common desire to create a culture across Centrica Energy (CE) which can be summed up in five words; safety, high performance and pioneering High performance spirit. We call this the CE Way and it guides everything we do, ensuring that we do our jobs safely, or not at all, we demand the best from one another and we look for better ways to achieve our goals. The E&P world is one where you can ill afford to stand still if you want to maintain production, never mind grow it. We are working in a challenging environment where, across the globe, industry players see increasing costs from the supply chain, lower productivity in maturing basins Pioneering spirit and less than adequate capital project performance.