1. Agenda
Introductions
Setting up an E&P company from Sr. Management perspective
Service co. vs. E&P differences
Operator vs. Non-operator differences
Roadmap
SWOT
E&P lifecycle, disciplines, organisational models & HR
The Players: NIOC/IOC/Iranian E&P & other stakeholders roles
Break
Joint Venture aspects
Partnering an IOC
JOC/JOA: Agreements
Running an E&P company
Technology Transfer
Additional Modules
Discussion/Questions/Exercises
Additional Modules
HSE/Stakeholders: Elgin-G4 (UK)
Pick an operator: Mariner (UK)
Field Development: Stella (UK)
Fracking: the ongoing debate
Abandoment (NL, UK)
Exploration & Appraisal Process
Economics – brief overview
Reserves Classification
Recovery (1/2/3)

2. Epeüs Nicolaas (Peter) Veenhof
Shell Operated
UK, Turkey, the Netherlands and Malaysia
Technical roles E&P
Clyde Petroleum – Operated
the Netherlands
Exploration & New Ventures Manager
Wintershall Noordzee – Operated
Exploration Manager
the Netherlands, Denmark and the UK
set-up and ran a large (40+) department
Dyas – 2007 – Non-Operated
New Ventures and Commercial Manager
Managing Director
large transactions
built the present organisation
Nail Petroleum – 2014 – consult & invest

3. Nail Petroleum B.V. Nail Petroleum was formed in 2014 to
assemble assets in NL/DK/Germany
1 partner per country
Consult
Associates
Danica Resources
MTOC
Corleonis
CBC Oil&Gas
Upstream Advisors
Panterra
Other…
Individuals

4. For Oil & Gas Producing Companies, In terms of Money and Time
E&P lifecycle
For Oil & Gas Producing Companies, In terms of Money and Time
Production
Phase
Exploration
Development step
Appraisal Phase
Commercial
Declaration
(PS or FID)
CAPEX-DP
CAPEX-EXP
Discovery
OPEX
Taxes
Income
Free Cash
Appraisal well
Exploratory well
G&G
Regional studies
Risk
High
Medium
Low
Decommissioning
Signature Bonus
Economical
Limit
Cash Flow + -
Finish of Development
Studies
Reports
Application
Explore/Appr
Drill well(s)
3D seismic
FDP
IP’s, workshops
EIA, Prod. Licence
Execute
Construction
Operations
Maint/Comp etc
IOR/EOR
COP
Harvest Mode
Provision
Typical
Activities
Ajustar a questão dos impostos (ficar no início – logo após o custo de entrada – se considerarmos os impostos de um modo geral; ou a partir do início do faturamento)

5. The EPC/Service Contractor Company Business Model Canvas
Engineering
Licensor
Out-Sourcing
Oil Companies
Procurement
Turnkey
Other EPC Contractors
Construction
EPC
NIOC
E&P Companies
J.V. Members
Engineers
Public Tender
Equipment
Government
In-house Knowledge
Salary
Overhead
Invoice- Based on Progress Report
Sub-Contractors bills

6. Generalized E&P workflow to production
Seismic acquisition company records seismic data over area of interest (geophysicists: MSc, PhD)
E&P company leases land from the government
E&P company interprets data and determines a location to drill (geologists and geophysicists: MSc, PhD)
Service companies drill the well and record technical data (engineers, geologists, geophysicists: BSc, MSc, PhD)
If commercial reserves are proven, field development begins (engineers, geologists, geophysicists: MSc, PhD)
Production facilities, pipelines, storage facilities, and transportation are installed (Engineers)

7. E&P Company – non-Operator
Service Co to E&P non-operator (2)
Service Company
E&P Company – non-Operator
Finance: get paid & no (less) investment risk
Finance: large investment risk
(Tech) Occupies a niche
Covers all aspects
(Mgt) Reacts immediately to the client
Sometimes wait. Support after inquiries to Operator
(Mgt) Proposes Solution
Talks from Experience
(Proj) Takes Care of Local content
Liaises with Operator on local matters
(Proj) Executes a project
Influences a project

8. Corporate Management – Key disciplines required (2)
Operations
Construction, Facilities, Pipelines, internal Transport
Production & Production Monitoring – Field Operators
External Transport & Sales Networks
Quality, Health, Safety and Environment
Data Management
field -> office -> HQ
Financial
Accounting
Reporting
Cash Flow Management
Budgeting
Communication
New Assets – involve Commercial disciplines
Existing Joint Venture Management
New Ventures
Link with BD disciplines
Personal Example
Operator
Wintershall
Non-Operator
Dyas

9. Elgin-G4 Gas Leak – an HSE case