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Lloyds List: Offshore boom finds favour with financiers

Published: Sep 12, 2007

What’s the fuss?

THE 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 high level of interest in the offshore market.

Furthermore, as oil and gas prices continue to rise, the exploration and production of previously ignored marginal fields is now becoming economically viable, and drillships, production vessels and supply ships are all in demand, boosting the orderbooks of specialist shipyards and offshore vessels owners. While the profits to be gained from traditional ship financing have levelled, the offshore sector remains buoyant and is seen as a potential growth area, with 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 and Production;

Bjorn Henriksen, executive vice-president and chief finance officer, Prosafe;

Elisabeth Barstad, director, business development, BW Offshore;

Sven Dybdahl, head of floating production group, DVB Merchant Bank;

Richard Moreton, executive director, Granby Oil and Gas;

Erik Haugane, chief executive, Pertra.

In a nutshell:

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

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