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Oil & Gas International Licensing 2015 Summit
January 20, 2015 - January 21, 2015
The Oil & Gas International Licensing 2015 Summit on 20-21 January 2015 in Churchill Hyatt Regency London will be a global platform for those involved in oil and gas licensing, E&P, legalities, and procurement, to obtain a comprehensive understanding of how to effectively produce a licensing round and allocation system; to explore ways to adapt to demands and challenges around licensing procedures; gauge how to manage a licensing campaign, and meet international personalities from NOCs and Ministries that are responsible for establishing licensing rounds to gain excusive insights.
Licensing forms the foundation of the oil and gas industry. Licensing rounds allow companies and joint ventures across the world to search for commercially feasible deposits for extracting petroleum. The procedures through which each sovereign country distributes licenses can vary greatly from country to country; the biggest variant of which is whether the country offers a bid system or a grant system.
The State or Government carefully selects the perfect licensing system that aligns with the social, geographical, and political need of the country. The differing procedures, processes and protocols reflect each country’s desire to attract and award offered blocks to the most suitable companies and partners. Many questions stem from the moment a licensing round is established and conducted:
Was the interest of the industry as dynamic as expected?
Were enough investments attracted?
Was the allocation system effective and why?
Have investments been secured for all blocks offered?
These are only some of the issues that Ministerial Authorities have to address upon completion of the procedure. Today, the need to create an efficient system to attract investment and build a strong oil and gas industry within a country is crucial given the vital role that oil and gas plays at both a national and global level.