global oil and gas capabilities

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EYs global oil andgas capabilities


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DediOur global organizationEY is one of the worlds leading professional servicesorganizations, committed to doing its part in buildinga better working world with extensive knowledge andhands-on industry experience.

In a better working world trust increases, capital owssmoothly and investors make informed decisions. A betterworking world also promotes talent development in all itsforms and helps encourage collaboration. The insightsand quality services that EY delivers help build trust andcon dence in the worlds capital markets and economies.

Our professionals think globally and act locally on ourclients behalf. Our organization has a strong accountmanagement philosophy, supported by leading-edge

knowledge management and seamless technology. Weaccomplish this level of service through highly effectiveinternal communication.

For many years, our organization has been at theforefront of providing leading advice to the oil and gasindustry worldwide. EY ranks rst among all rms inproviding external audit services to public companies inthe Fortune 1000. Our leadership and presence acrossthe country and around the world provide our clientswith readily accessible, highly experienced professionalsanywhere they conduct business today and tomorrow.

Fortune 1000Big Four auditmarket share*

EY

30%

Deloitte24%

KPMG18%

PwC26%

Other2%

* By number ofcompanies auditedas of August 2014


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1EYs global oil and gas capabilities |

cationOur dedication to oil and gasEYs Global Oil & Gas practice consists of a network of more than10,000 professionals with extensive experience working in theoil and gas industry. Our professionals serve a wide range ofcompanies independent exploration and production companies,oil eld services companies, independent re ners, major integratedcorporations and national oil companies.

Our Global Oil & Gas Centers, like the professionals in our GlobalOil & Gas practice, are strategically located in areas that allow us tobest serve the needs of the oil and gas industry. In addition to ourHouston, London, Moscow and Rio de Janeiro Centers, we haveSatellite Centers in Aberdeen, Bahrain, Beijing, Brisbane, Calgary,Cape Town, Johannesburg, Lagos, Perth, Singapore and Stavanger.

Our experienced and dedicated Global Oil & Gas Center resources:

Anticipate market trends and identify the services thatcompanies in the oil and gas industry need

Execute the mobility of our global resources so that weprovide the right people in the right places at the right timeto serve our clients

Develop and deliver oil and gas speci c training to ourprofessionals to provide the knowledge necessary to deliverhigh-quality services to our clients

Develop points of view on relevant industry issues so that ourclients stay informed about key developments and trends

Our deep industry focus helps EY make a difference. It allows usto help companies in the oil and gas industry meet their goals andcompete more effectively.

EY has established a global network ofmore than 10,000 professionals supported

by 15 Global Oil & Gas Centers.

Calgary

Stavanger

Moscow

Beijing

Singapore

Cape Town

Lagos

PerthBrisbane

Houston

Rio de Janeiro

Americas

3,600 professionals

Asia Pacifc and Japan1,500 professionals

Europe, Middle East, Indiaand Africa

5,200 professionals

London

Bahrain

Aberdeen

Johannesburg


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| EYs global oil and gas capabilities2

UnderWe understand your businessThe oil and gas industry is going through a period of fundamentalchange. The challenges of meeting growing global demand forenergy against the backdrop of naturally declining production andreserves from existing elds, paired with geopolitical uncertaintyand volatility, have more recently been compounded by a structuralchange in the oil market, dramatically increasing price volatility.In order to meet these challenges, the industry has had to moveinto new areas that are typically higher-risk and higher-cost,including unconventional resources such as shale and tight oiland gas, along with ultra-deepwater and Arctic developments.With the International Energy Agency (IEA) forecasting that morethan US$28 trillion will need to be spent to meet future demand

for oil and gas between now and 2040, 1 the challenges that oiland gas companies are facing span the technical; commercial;

nancial; and health, safety and environment (HS&E) aspects oftheir business. But at the same time, the industrys ability to makethese investments has been constrained by sharp volatility anduncertainty, elevating the importance of capital discipline andoperating ef ciency. We have identi ed a number of key industryissues and highlighted some of the ways in which EY is assistingcompanies in meeting those challenges.

1 International Energy Agency, World Energy Outlook 2014 .

Industry issues How is EY assisting?Regulatory compliance

Recent years have seen both an increase in regulation and an increased focus onregulatory compliance. Companies have increased their efforts to ensure compliancewith existing and new regulations, such as Sarbanes-Oxley (SOX) and the ForeignCorrupt Practices Act. Many companies also face increased environmental reportingrequirements and managing the transition to International Financial ReportingStandards in certain geographies. The pace of change in this area is likely toaccelerate with Dodd-Frank, the UK Bribery Act Extractive Industries TransparencyInitiative (EITI), potential new deepwater drilling regulations, and increasinglystringent environmental regulation and reporting all set to add to the workload of thecompliance functions, nance departments and the broader organization.

Completing statutory audits Completing sustainability audit assurance Completing compliance risk assessments Identifying and implementing improvements to the

controls framework Identifying and implementing controls and compliance

monitoring tools and processes Advising and preparing statutory and tax reporting Supporting internal audit functions Providing SOX/JSOX guidance and documentation resources

Counterparty risk

Historically, oil and gas companies have entered into joint ventures on largeprojects to share capital, technology, expertise and risk. The attention on jointventures and contracting partners has been put into focus by recent events and canexpose companies to considerable nancial and reputational risk. There needs to beabsolute clarity within these contracts regarding responsibilities, decision-makingand potential legal liabilities. In addition to this contractual clarity, there will be an

increased emphasis on venture partner and contractor nancial strength and theirability to withstand the potential nancial pressures that result from a major incident.

Completing valuations, nancial due diligence and modeling Completing joint venture audits and assurance Reviewing and improving enterprise-wide governance, risk and

compliance with advice and resources Supporting internal audit functions with expertise and

resources in key areas and geographies Providing capital and debt advice

Cost management

Oil and gas companies have seen signi cant increases in drilling, service, productionand operating costs over the past decade. Economic volatility has put the spotlightdirectly on cost management as an area of competitive advantage. The increasinglevels of upstream capital expenditure that are being seen across the industry are afurther incentive for leading organizations to optimize their costs and working capital.

Optimizing working capital and management processes Optimizing supply chain processes from both a tax and

operational perspective Standardizing complex processes and implementing

shared services Rationalizing procurement processes and optimizing spend Implementing driver-based planning and making organizations

focus on the key performance metrics that drive the business


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Industry issues How is EY assisting?Managing capital projects

With the industry experiencing a period of major capital investment, the numberof megaprojects with multibillion-dollar budgets has increased dramatically inrecent years. The budgets have become so large and the technical, constructionbusiness and procurement processes so complex that the difference between averageproject management and leading project management processes can often equate tobillions of dollars. For more information, visit ey.com/oilandgas/capitalprojects.

Reviewing and challenging business case assumptionsand approaches

Developing and standardizing capital project managementprocesses

Providing advice on tax and legal entity structuring Providing delivery assurance reviews during critical phases

of the project to provide management with an independentview of cost and time performance

Completing contract and procurement compliance reviews

Access to reservesThe vast majority of the worlds oil and gas resources are located in countries thatoften restrict access for independent companies. Even in more open economies,access to resources can be limited by environmental or political restrictions. As aresult, exploration and production activities are moving into increasingly remote andrisky locations. Larger, more technically challenging and capital intensive projectsare leading to more joint ventures, which are necessary to help companies sharethe associated risks, technology and capital. Unconventional resources (such as oilsands, shale gas and coal bed methane) are becoming an important part of oil andgas companies portfolios as technology makes them cost-effective and the need for

energy makes them an important part of the supply mix.

Reviewing and assessing business cases Completing or assuring valuations and data modeling Providing new country entry service, including legal entity

and tax structuring

Portfolio management

The industry is in a period of transition; many factors are combining to drive hightransaction levels across the industry, thereby driving portfolio rationalization. Thereare signi cant opportunities to acquire downstream assets in many Organization forEconomic Cooperation and Development markets, as we see a migration of capital fromthe downstream to the upstream. The large number of megaprojects in the upstreamalso has created a record number of major new joint ventures. In addition, the shalegas boom in the US has created opportunities that have attracted the attention ofthe majors and driven consolidation in this sector. Combining these issues with afast-changing regulatory, tax and economic environment means that developing andimplementing strategic investment and divestment plans has never been more complex.

Providing nancial and operational carve-out services

Providing valuation services Providing buy- and sell-side due diligence Providing postmerger integration services Providing buy- and sell-side tax advice

IT security

IT security has increasingly become an issue for oil and gas companies. Disruptionto operations caused by cyber attacks on company systems may compromise safetyand operational and nancial performance. Competitive companies are realizing thatthey cannot effectively manage risk in a global environment if they ignore the threatof cyber theft.

Assessing IT audits and security

Supporting clients to assess and improve risk-relatedIT processes

Developing and implementing customized IT risk managementframeworks and processes

Developing IT strategy and architecture

Advising on IT sourcing strategy and processes

Human capital de cit

With new reserves becoming harder to nd, the industry is moving to new frontiers, and with the growth in unconventional plays, the demand for experienced engineersand geologists is increasing. Despite fewer young engineers and geologists enteringthe industry, and with an aging workforce, there is a premium on industry experienceand the battle for talent will continue to intensify over the next few years. Theproblem is exacerbated by the increasing prevalence of national content laws, which

may prevent areas with suf cient skilled personnel from providing personnel to thoseareas with skills shortfalls.

Providing expatriate tax and payroll services Advising on global mobility policies and processes Advising on remuneration and reward strategies Providing business process design and standardization Providing shared service design, implementation

and optimization

tanding


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4 | EYs global oil and gas capabilities

ServicAssurance servicesExternal auditAs the auditor of some of the worlds most innovative companies,EYs leading position in the oil and gas sector can bring tremendousbene ts to your company. Some of our leading practices includethe following:

Direct audit approach: With an increased focus on ef ciency andeffectiveness, we have adopted a direct audit approach for ourlarge global audit clients. We see this as a leading practice, as acentrally driven and directed approach allows our teams to focuson those areas that we have identi ed as having a higher risk ofmaterial misstatement.

Mobility: Being dominant in the oil and gas sector has allowed usto invest differentially and build a strong network across key oiland gas territories. The size of our global oil and gas base createsopportunities that allow us to move resources to supplementlocal needs.

Commodity trading: Our in-depth experience across the oil and

gas majors, global utilities, investment banks and independentcommodity traders gives us an understanding of leadingindustry practice and the current challenges the industry faces.This allows us to have a full appreciation of the key risks in atrading organization and how to mitigate them, including roguetrader risks.

Other assurance servicesWe offer other assurance-related services applicable to companiesin the oil and gas industry, such as statutory audits, SOXcompliance, assessment of procedures and controls relating toprivacy and con dentiality, performance measurements, systems

reliability, information security and outsourced process controls.Our teams examine processes and outcomes of non- nancialrisk assessments to con rm whether non- nancial risks appropriateto the business have been identi ed and whether adequate controlshave been established to mitigate these risks. We review internalmonitoring and reporting mechanisms to test the adequacyof management information and internal reporting. We workto understand existing internal oversight for key non- nancialissues, highlighting strengths and identifying potential areasfor improvement.

Climate change and corporate responsibilityIssues such as health and safety, environmental impacts, socialperformance, ethics and human rights are critical to the commercialsuccess of our oil and gas clients. Furthermore, organizations inthe sector are coming under increasing scrutiny from investors,governments, regulators, communities and other stakeholders

in relation to the management of these issues. We work with ourclients in the sector to assist in the following:

Understand and prioritize material non- nancial issues andrisks, develop and implement strategies, improve governance,and develop performance metrics and controls through oursustainability advisory services

Enhance con dence in internal management and externalreporting of performance, and support the delivery of performanceimprovements, through a range of assurance services

Financial Accounting Advisory Services (FAAS)

Our FAAS team leverages its extensive knowledge in deliveringintegrated solutions to help companies manage complex accountingand nancial reporting challenges. We bring together global,multidisciplinary teams that have deep sector knowledge, to providetailored solutions in the following areas:

Accounting and nancial processes designing and enhancingaccounting and nancial reporting processes; preparingaccounting manuals and related application guidance

Accounting standards and regulatory requirements supportingcompanies in implementing new accounting standards,regulations or accounting policies

Corporate treasury services providing accounting advicein the areas of treasury, derivative valuations, commoditytrading, and risk management to aid compliance and drive valueor cost reduction

GAAP conversion identifying accounting differences,assessing business implications, preparing the rst set of

nancial statements under the new GAAP and providing requiredstaff training

Restructuring and asset nancing assisting companiesundertaking restructurings or nancing the purchase of assets

Transactions, initial public offerings (IPOs) and nancial

reporting assistance addressing key accounting and regulatorychallenges that arise on mergers, IPOs, acquisitions anddivestitures, to help optimize the transaction


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esFraud Investigation and Dispute Services (FIDS)With stronger enforcement actions and intensi ed scrutiny as wellas pressure for increasing transparency of information in operations,materials sourcing and payments, companies in the oil and gasindustry require assistance now more than ever to successfullynavigate the legal and regulatory landscape. Our forensic practice

can provide this assistance, whether it is in relation to a dispute witha business partner, regulatory inquiry, internal investigation, or evenassessing the background of a prospective business partner or thelegacy bribery and corruption risks of a proposed acquisition. Wecan help you manage risks in your supply and distribution chains;trace and document the source of con ict minerals; quantify thevalue of payments to foreign governments; and improve youroperations to help prevent fraud, abuse and fuel loss. Our key oiland gas services include the following:

Fraud investigations and dispute advisory

Integrity due diligence

Forensic technology and discovery services(including cyber crime)

Antifraud services

Business integrity and corporate compliance services

Insurance claims

Fortune 1000Oil and gas companiesaudit market share*

* By number of companies audited by the

Big Four as of August 2014.

EY

30%

Deloitte24%KPMG

18%

PwC26%

Other2%

Oil and gas audit clients

Apache Corporation National Oilwell Varco, Inc.

BG Group NOW Inc.

BP p.l.c. Oceaneering International

Calumet Specialty Products Partners Oil States International

Cameron International OMV AG

Cobalt Energy Paci c Rubiales Energy

Comstock Resources Petrofac Ltd.

ConocoPhillips PetroQuest Energy

Delek Group Limited Phillips 66

ENI S.p.A. Pioneer Natural Resources

EP Energy Range Resources

EQT Corp. Rice Energy Inc.

Forest Oil Rosneft

Formosa Petrochemical Corp. Santos

Goodrich Petroleum Stone Energy

Helix Energy Solutions Swift Energy

Helmerich & Payne Talisman Energy

Hercules Offshore Technip S.A.

Hess Corporation Tesoro Corporation

HollyFrontier Corporation TETRA Technologies

JX Holdings, Inc. Total S.A.

Koc Holding AS Transocean Ltd.

Koch Industries Ultra Petroleum Corp.

Magellan Midstream W&T OffshoreMarubeni Corporation Williams Companies

MOL Magyar Olaj-es Gazipari NyRt Woodside Petroleum


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ServicWe are renowned for our insightful advice and the depth of ourindustry experience across the globe. We have extensive experienceserving companies through the entire industry value chain, whetheroil and gas companies, oil elds service companies, or companiesinvolved in midstream and downstream businesses. We bring ourdeep knowledge and expertise to serve your business with thewhole range of tax matters affecting the oil and gas industry,whether direct, indirect, individual or cross-border taxation.

Tax advisoryOur upstream tax professionals can assist in implementing theconstantly changing and evolving scal environment for theupstream business, which is so different from general corporatetaxation for other non-extractive businesses.

Our tax advisory professionals can assist companies with alignmentof their tax function with their business operations and strategy,transaction planning and support, and enterprise risk managementactivities. Our tax advisory services help companies in the oil

and gas industry address such issues as understanding the taxconsiderations involved with expanding operations into newcountries, managing international assignments for key employeesor structuring cross-border supply chains.

Our corporate and international tax professionals help clientsimplement the constantly evolving tax legislation and internationaltax initiatives, support and structure transactions and cross-borderoperations, maintain tax ef ciency throughout the value chain,manage tax risks and improve sustainable growth.

Tax complianceFor tax compliance, our professionals can assist companies in the oil

and gas industry with corporate income tax, royalty, production taxes,property taxes, statutory reporting, tax accounting calculations,expatriate tax return processing and indirect tax reporting.

Compliance and reporting make huge demands on tax and nancefunctions. We understand that what you need is access, visibilityand control. Our market-leading approach combines extensivelocal compliance and accounting experience with a standard globalcompliance process and web-based tools. You can access theresources of our dedicated compliance and reporting professionalsin one country or globally with a single point of contact.

Our global network of experienced transaction advisoryprofessionals work with many of the worlds leading oil and gascompanies, fast-growing companies and private equity rms onmany highly complex cross-border deals in the global market.Our focus is on providing independent, whole-life support andadvice to our clients to improve their growth, pro tability andcompetitiveness in a changing landscape. We have proven industryskills covering the entire breadth and depth of our oil and gasclients businesses ranging from strategy to portfolio review,optimization and management to execution. Our global reachmeans that wherever a company operates in the world, we can helpachieve the value that investors expect.

We continually challenge ourselves to develop services that arehighly relevant to our clients in the face of evolving regulatory andindustry requirements, and the changing landscape. Our strategicand execution services include the following:

Corporate development advisory company, portfolio and assetevaluations, and review of internal decision support models;

identi cation of options to address any gaps in portfolios and tomaintain or create clients competitive edge

Transaction execution advising on mergers, acquisitions ordivestments, joint ventures and alliances; undertaking buy-sideand sell-side due diligence; and carve-out accounting

Integration determining and analyzing post-acquisition andmerger integration and, in some cases, portfolio realignment

Capital agenda optimizing the capital needs of businessesat the corporate, portfolio and asset, project and business unitlevels, including working capital, cash ow improvements, anddebt and equity raising or re nancing

Tax advisory providing advice on country scal regimes andtax structuring advice, transaction planning, enterprise riskmanagement activities and aligning tax planning strategies withbusiness operations; structuring transactions tax effectively,managing the tax burden and improving sustainable growth;advising on the tax impact of alternative energy; managinginternational assignments for key employees; and understandingtax considerations in expanding operations to new countries

Tax services Transaction advisoryservices


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esAdvisory servicesEYs Advisory services for companies operating across the valuechain within the oil and gas industry are focused on performanceimprovement and risk management.

Performance improvementFinanceOur nance professionals assist oil and gas companies in identifyingand actively monitoring the key drivers of business performance.They assess and improve the overall nancial and managementreporting to provide client leadership teams with the informationthey require to direct the business in the most cost-effectivemanner. Because of the global nature of the oil and gas industry,our team members also possess key insights into the most recentadvancements in providing shared support services, and they workwith clients to bring about further improvements to the sharedservices within their organizations.

CustomerOur customer professionals tend to focus on the downstream

segment of the oil and gas industry, where they help companiesde ne, identify and manage their most valuable customers. Theywork with clients to build and deploy robust operating models toef ciently capture market share in competitive markets.

Supply chain and operationsOur supply chain and operations professionals provide insightsinto supply chain improvements by addressing critical areas for oiland gas companies, such as procurement, logistics, engineering,

eld operations, manufacturing and distribution. This team focuseson assisting clients in running their end-to-end supply chains andoperations effectively and ef ciently in order to improve cash owand pro tability.

Information technologyOur information technology professionals are skilled at enablingkey business and operations improvements through the effectivedeployment of information technology. We help measure, enableand improve IT effectiveness to increase the overall returnon investment. These services include demand management,

application and infrastructure optimization, consolidation andsolution architecture, systems integration, IT program managementand IT security services.

RiskProgram managementAn organizations ability to recognize, prepare for and managebusiness risks will impact its performance and progress. Effectiverisk management isnt just about protecting a business its alsoabout making it better. We do this by helping companies in the oiland gas industry understand their business risks and develop plansto accept, manage or capitalize on them. Our risk management

services are focused on assessments (assessing risk potentialand processes), improvement (designing and assisting withimplementation of improvements to achieve business objectives)and monitoring (evaluating whether processes, initiatives andfunctions are operating as expected). Our audit expertise andindependence means that our teams are also able to workalongside our oil and gas clients to design and execute effectiveinternal audit programs.

People and organizational changeOur people and organizational change team is skilled at designingand supporting the execution of key change managementapproaches in order to support oil and gas client leadership

teams in carrying out major initiatives. Our experts draw upontheir knowledge (in oil and gas and across our other industries) ofmarket-leading practices to assist clients across all areas of humanresource management, including employee performance, talentmanagement, succession planning and organizational design.

StrategyOur strategy professionals understand business operations anduse their knowledge of operational requirements to support clientsin de ning and developing their strategic vision. They focus ontranslating corporate strategy into operational strategy, for eitherthe clients entire organization or certain functions within it.


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ComOur commitment to the industryKey Processes in Oil andGas Organizations (POGO)

At EY, we have developeda global framework for keyProcesses in Oil and GasOrganizations (POGO), inresponse to the changingdynamics of the oil and gasindustry. There is an appetiteto fundamentally improve andoverhaul business processesto achieve cost savings, andPOGO is designed to addressthe sectors needs as companiesseek these savings.

POGO does much morethan identify the end-to-endprocesses in the delivery chain.It also identi es commonbusiness risks within processesand provides integrated controlsto mitigate or prevent them.This is our key differentiatorcompared with other modelsthat are currently available in

the marketplace.Furthermore, POGO has beendeveloped as a truly globalmodel, rather than focusingon speci c regional markets. Itdraws on the knowledge of ourpeople and some of the largestengagements around the world.It is the sum of this experiencethat we believe sets us apart

from rivals.

Through our Global Oil & Gas Centers, we foster dialogue among industrystakeholders to identify insights that impact your business and proactively react torapidly changing markets. Our thought leadership is designed to help you successfullyaddress the complexities of todays global oil and gas business. See a selection of ourrecurring and topical publications below. To view all our publications and client alerts,visit ey.com/oilandgas.

Recurrent thought leadershipGlobal oil and gas tax guideThe Global oil and gas tax guide summarizes the oil and gas corporate tax regimes in80 countries and provides a directory of oil and gas tax contacts. For more, visitey.com/oilandgas/taxguide.

Global oil and gas reserves studyThe Global oil and gas reserves study is a compilation and analysis of certain oil andgas reserve disclosure information as reported by publicly traded companies. Thereport presents the worldwide exploration and production results for 75 companiesfor the ve-year period and provides information by region for the 75 companies.For more, visit ey.com/oilandgas/reserves.

Business Pulse: Oil and gas risks and opportunities reportThe report addresses the top 10 risks most likely to affect oil and gas companies each yearand the shape of the industry in the future. An understanding of how to respond to thesechallenges is essential for oil and gas companies as well as the opportunities they present.For more, visit ey.com/oilandgas/Business-Pulse.

Global oil and gas transactions reviewEach year, we review the global oil and gas transactions from the prior year. In thisreport, we look at some of the main trends in oil and gas merger and acquisition activityin the last 12 months and consider the outlook for deal activity across the sector.For more, visit ey.com/oilandgas/transactions.

Good Petroleum

To assist clients with the International Financial Reporting Standards (IFRS) disclosurerequirements in the oil and gas industry, EY produces model nancial statements titledGood Petroleum , which are updated annually. For more, visit ey.com/oilandgas/IFRS.

Oil and Gas Global Capital Con dence BarometerOur biannual survey of oil and gas executives conducted by the Economist IntelligenceUnit gauges corporate con dence in the economic outlook, and identi es boardroomtrends and practices in the way companies manage their capital agenda. For more,visit ey.com/oilandgas/CCB.

Oil and Gas EyeOil and Gas Eye is the rst tracking index within Alternative Investment Market (AIM) thatmonitors the health of the oil and gas subcomponent of the AIM on a quarterly basis. Formore, visit ey.com/UK/oilandgaseye.


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itmentForums and eventsSolving tough problems requires dialogue on the issues. The visionof our Global Oil & Gas Centers is to convene industry executiveswith the seasoned professionals of EY to discuss issues vital to yourfuture success. We do this by hosting a number of highly regardedproprietary seminars and roundtables around the world on hot

topics, such as IFRS, climate change and regional regulations.We also participate in many industry events to support themission of dialogue, such as the Oil Council Assemblies, WorldPetroleum Congress, World National Oil Company (NOC) Congress,Offshore North Sea/Europe (ONS), Oil & Gas Africa Week, RioOil & Gas, International Petroleum (IP) Week, and IndependentPetroleum Association of America (IPAA) Oil & Gas InvestmentSymposium (OGIS).

Training and webcastsWith information, regulations and trends moving at a staggeringpace, ensuring that you are armed with the most currentinformation and perspectives is a dif cult challenge. In supportof the ow of information, the EY Global Oil & Gas Centers arecommitted to providing technical training and webcasts to helpyou navigate the issues of the day. Find our latest webcasts byvisiting ey.com/webcasts.

EY Entrepreneur Of The Year

Our time-honored event, the EY Entrepreneur Of The Year awardsprogram, has celebrated outstanding new market entrants for morethan 25 years. It makes a difference through the unique way itrecognizes the contribution of people who inspire others with theirvision, leadership and achievement. For more, visit ey.com/EOY.

Connect with usEY Client Portal is our password-protected website. It deliversnews, insights, references, collaborative workspaces and business,tax, accounting and auditing information. With relevant knowledgeresources and online business tools, it is designed to help you workmore ef ciently.

Staying connected is important to keep up with industry trends andissues. Visit our Global Oil & Gas home page at ey.com/oilandgasfor the latest updates on oil and gas thought leadership andsponsored events. You can also sign up for industry email alertson ey.com. Our social media channels will also help you to stay upto date on our reports, surveys and more. Join us for discussionson LinkedIn under the group name EY Global Oil & Gas Center andon Twitter @EY_OilGas.

Experience matters. Our deep industryfocus helps companies in the oil and gasindustry face todays challenges andcompete more effectively. The EY GlobalOil & Gas Centers are committed to

sharing our knowledge through variousmediums with industry leaders of todayand tomorrow.


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EY | Assurance | Tax | Transactions | Advisory

About EYEY is a global leader in assurance, tax, transaction and advisory services.The insights and quality services we deliver help build trust and confidencein the capital markets and in economies the world over. We developoutstanding leaders who team to deliver on our promises to all of ourstakeholders. In so doing, we play a critical role in building a better workingworld for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the

member firms of Ernst & Young Global Limited, each of which is a separatelegal entity. Ernst & Young Global Limited, a UK company limited byguarantee, does not provide services to clients. For more information aboutour organization, please visit ey.com.

How EYs Global Oil & Gas Center can help your businessThe oil and gas sector is constantly changing. Increasingly uncertain energypolicies, geopolitical complexities, cost management and climate changeall present significant challenges. EYs Global Oil & Gas Center supports aglobal network of more than 10,000 oil and gas professionals with extensiveexperience providing assurance, tax, transaction and advisory servicesacross the upstream, midstream, downstream and oil field sub-sectors. Thecenter works to anticipate market trends, execute the mobility of our globalresources and articulate points of view on relevant key sector issues. With

our deep sector focus, we can help your organization drive down costs andcompete more effectively

2014 EYGM Limited.All Rights Reserved.

EYG No. DW0455BSC No. 1408-1294321 SWED None

This material has been prepared for general informational purposes only and is not intended tobe relied upon as accounting, tax, or other professional advice. Please refer to your advisors forspecific advice.

ey.com/oilandgas

EYs Global Oil & Gas Center contacts

Axel PreissGlobal Oil & Gas AdvisoryLeaderFrankfurt+49 6196 996 [email protected]

Gary DonaldGlobal Oil & GasAssurance LeaderLondon+44 20 7951 7518

[email protected]

Andy BroganGlobal Oil & GasTransactions LeaderLondon+44 20 7951 [email protected]

Alexey KondrashovGlobal Oil & Gas Tax LeaderMoscow+7 495 662 [email protected]

Dale NijokaGlobal Oil & Gas LeaderHouston+1 713 750 [email protected]

Alexandre Oliveira Global Oil & GasEmerging Markets LeaderDubai+971 4 [email protected]

Derek Leith Aberdeen+44 1224 [email protected]

Mark HaywardBrisbane+61 7 3011 [email protected]

Barry Munro Calgary+1 403 206 [email protected]

Christian von Tschirschky Dubai+971 4 [email protected]

Deborah ByersHouston+1 713 750 [email protected]

Jane Fitton Johannesburg+27 11 77 2 3736

jane. [email protected]

Claire LawrieLagos+234 703 909 [email protected]

Andy Brogan London+44 20 7951 [email protected]

Grigory Arutunyan Moscow+7 495 641 [email protected]

Finn KinserdalOslo+47 24 00 21 09

[email protected]

Russell Curtin Perth+61 8 9429 [email protected]

Carlos Assis Rio de Janeiro+55 21 3263 [email protected]

Xiaoping ZhangShanghai+86 21 2228 [email protected]

Sanjeev Gupta Singapore+65 6309 [email protected]

Connect with us

Follow us on Twitter @EY_OilGas

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