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Lloyds List: Financing opportunities in the offshore activity boom

Published: Aug 01, 2007

What’s the fuss?

THE current surge in demand for energy, coupled with high oil prices, has led to a boom in exploration and production. Given that offshore activity is expected to represent 43% of oil production and 83% of gas production by the end of 2008, there is a lot of interest in the offshore market.

In addition, as oil and gas prices continue to rise, the exploration and production of previously ignored marginal fields is becoming economically viable, meaning drill ships, production vessels and supply ships are in demand.

Currently demand outstrips supply, so orderbooks of specialist shipyards and owners/operators of offshore vessels are full well into the medium term. While profits to be gained from traditional ship financing have levelled out, the offshore sector remains buoyant and is seen as a potential growth area, with many ship finance banks moving into the market.

Speakers to note

Phil J Mulhall, exploration manager, Europe/North Africa, ExxonMobil International

Sarah Kuijlaars, finance director, Shell Nigeria Exploration & Production

Bjorn Henriksen, executive vice president and CFO, Prosafe SE

Elisabeth Barstad, director, business development, BW Offshore

Sven Dybdahl, head of floating production group, DVB Merchant Bank (Asia)

Richard Moreton, executive director, Granby Oil & Gas

Erik Haugane, CEO, Pertra ASA

In a nutshell

Financing Offshore Exploration & Production, October 4-5 2007, Crowne Plaza hotel, London SW1, and its sister websites,,,,, and are all owned by John Donovan. There is also a Wikipedia article.

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