We believe in putting the mineral owner first – it usually pays off for us. Additionally, I think we leverage technology really well. We have figured out how to use new software and data management tools to help us organize data and run titles more quickly.
In the current state of affairs, we simply can not do enough to promote the positive factors associated with our industry. I believe that we must continue to encourage discussions, at every level, that put Canada’s long term economic interests ahead of regional political interests.
I was born in an oil camp in North Dakota and my father was a Petroleum Engineer, so I was literally raised learning about the industry. I attended my first OTC when I was 13 years old.
In the past year Woodside Energy has completed capacity training for the Ministry of Environment and Sustainable Development; submitted their Evaluation Report with their Exploitations Plan to be submitted to the Government shortly; substantially progressed their Environment and Social Impact Assessment; and technically matured their project in anticipation of front-end engineering and design entry by the end of the year.
A genuine effort of identification of possible candidates throughout the region to be accompanied by operators to become visible examples for others to follow and compete with. In my view, this is the only sustainable impact, which can continue beyond extractive industry limited activities period.
Latin America has rightly been identified as a region that has tremendous potential. There are many basins which have been underexplored and contain large potential conventional prizes to be claimed.
The MSGBC Basin is an attractive region to do business for a number of reasons. Most importantly the basins geologic characteristics provide the potential for sizable discoveries of hydrocarbons as demonstrated by a number of operators already.
Our gas-condensate discovery in Turkey created a very significant increase in our share price. It was a very exciting time as we tested the well and then were able to raise all of the capital required for our appraisal program.
The Agency’s main objective over the next three years is the implementation of the drilling program in the AGC Central and the AGC Profound block raising a lot of interest from external companies and the AGC itself.
With a better defined PEPLA being finalized and the licensing process for open blocks currently ongoing, the dynamics of the industry will improve greatly in the next five years in The Gambia.
In today’s changing environment, I believe the combination of a great technical foundation with good behaviours is the key to growing great talent – no matter where in the world you are operating.
When an industry is in its nascent stages, there are development opportunities at every stage. Ultimately, I envision the INPG as a veritable hub for the MSGBC basin — a regional entry point for companies and potential partners.
The MSGBC Basin is a relatively green-field space and being at the early stage of development there is tremendous potential to build meaningful multi-decade production hubs.
Mark Hume, Director and Portfolio Manager, covers the energy sector and co-manages the Natural Resources team’s all-cap energy funds, including the BGF World Energy Fund.
The UKCS has undergone substantial change and is now enjoying a period of increased production, production efficiency and lower costs.