Association Webinars: Economics of Decommissioning of Offshore Oil Installations



  

This webinar provides an overview of the state of research in the area of economics of decommissioning of offshore oil installations and also discusses current challenges. The speakers will address issues such as tax and financial security arrangements, business models for decommissioning, and decision criteria for the determination of cessation of production date.

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Moderator:

Marc Gronwald's current research focuses on empirical analyses of energy markets, in particular crude oil markets and emissions trading schemes such as the EU ETS. The aim of this research is to develop deep insights into the functioning of these markets and help to analyse whether this functioning changes over time. He is particularly interested in large price movements and he attempts to understand whether or not these movements can be explained by market fundamentals. A fundamental understanding of carbon markets is required to efficiently regulate greenhouse house emissions. Also crude oil is not only an important commodity, it is also relevant in the context of climate change as it is also a fossil fuel. If the dynamics of supply and demand of this fossil fuel are ignored, the efficiency of climate policy will be greatly diminished. In addition to this, Marc recently began working on the economics of cryptocurrencies - perhaps also because there are large price movements. Prior to his appointment as Senior Associate Professor at International Business School Suzhou, Marc held appointments as Senior Lecturer at the University of Aberdeen and as Economist at the ifo Institute, Munich. He obtained a diploma (master equivalent) degree in Economics from the University of Bielefeld, and his PhD. from the University of Hamburg. Marc is member (fellow) of the CESifo Research Network and Research Associate of the ifo Center for Energy, Climate and Exhaustible Resources.

Speakers:

Yakubu Abdul-Salam is an applied economist with long-standing research interest in energy/resource economics. A significant aspect of his work involves economic modelling using constrained optimisation and empirical analysis techniques. His previous research focused on issues related to access to energy in developing countries; and design, development and maintenance of standalone and/or web-based economic decision support software. More recently however, his research is focused on oil and gas economics, with emphasis on the UK Continental Shelf. He currently holds the University of Aberdeen Strategic Investment Position for research in Oil and Gas Economics with focus on North Sea Decommissioning. He is an Honorary Research Fellow of the James Hutton Institute in Aberdeen (UK) and an Associate Member of the Centre for Energy Economics Research and Policy at the Heriot-Watt University in Edinburgh (UK).

Alexander Kemp is currently Professor of Petroleum Economics and Director of Aberdeen Centre for Research in Energy Economics and Finance (ACREEF) at the University of Aberdeen. He was formerly Lecturer, Senior Lecturer and Reader. He previously worked for Shell, the University of Strathclyde and the University of Nairobi. For many years he has specialised in his research in petroleum economics with special reference to licensing and taxation issues. He has published over 200 papers and books on this field, including Petroleum Rent Collection Around the World, Institute for Research on Public Policy, (Canada), 1988. For many years he has been a consultant on petroleum contracts and legislation to a large number of Governments, the World Bank, the United Nations, various oil companies, the European Commission, the UK Know-How Fund and the Commonwealth Secretariat. He was a specialist adviser to the UK House of Commons Select Committee on Energy from 1980 to 1992. He is an editorial adviser to a number of energy and other academic/professional journals. In 1993 he was appointed by the Minister of Energy to the UK Government Energy Advisory Panel. Professor Kemp has been appointed Official Historian by the Prime Minister to write the Official History of North Sea Oil and Gas. In May 1999, Professor Kemp was awarded the Alick Buchanan-Smith Memorial Award for personal achievement and contribution to the Offshore Oil and Gas Industry. He is Director of Aberdeen University Petroleum and Economic Consultants (AUPEC) which provides consultancy service in petroleum economics. Professor Kemp is a Fellow of the Royal Society of Edinburgh and a Fellow of the Royal Society of Arts. He was awarded the OBE in 2006 for services to the oil and gas industries. Professor Kemp is a Member of the Council of Economic Advisers to the First Minister. In June 2011 Professor Kemp was appointed a member of the Scottish Energy Advisory Board.


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Event Date: February 3, 2021

Event Time: 10:00 - 11:00 AM Eastern Time

Topic: Economics of Decommissioning of Offshore Oil Installations

Moderator: Marc Gronwald

Price: FREE for IAEE members


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