29th International Petroleum Tax Conference
The organising committee are pleased to welcome you to the
29th International Petroleum Tax Conference 30-31 October 2018 in Oslo.
We extend a warm welcome to delegates attending for the first time and appreciate the continuing support of those returning to the conference again this year. The 2018 conference will be the 29th since the inaugural event back in 1990. Since then the reputation of this conference has grown both domestically and, increasingly, overseas. The Oslo conference is now the leading such event in the Industry in terms of delegate numbers, quality and prestige of the presenters and breadth of the institutions/organisations they represent. This is only possible through the continuing support of the delegates, many of whom return faithfully each year; the organising committee is particularly grateful for this sustained commitment.
Although new exploration is continuing, the North Sea is now in a mature phase of its lifecycle and this year’s conference addresses the challenges and opportunities that brings. Reducing unit operating costs to maximise remaining production and decommissioning existing structures in a way that both meets environmental standards and is cost effective from the standpoint of investors and governments are the major challenges. The main opportunity lies in exploiting the first mover advantage that the maturity of the North Sea offers in terms of building expertise and experience in cost management and decommissioning that can be deployed in other basins around the world as and when they enter the same phase. Tax changes to reflect this new phase of the industry will be reviewed together with oil & gas tax trends generally. Last year we outlined possible scenarios for US tax reform and this year, with the Tax Cuts & Jobs Act now passed, we will take stock of what this means for the industry. We will also look at the latest tax plans of the EU in response to BEPS and the rise of the digital economy. Developments in tax technology that affect all of us will also be reviewed. All of these issues will be addressed at the conference in presentations, panel discussions and networking opportunities.
Tuesday 30. October
Opening and welcome by the chair
Opening statement by Ministry of Finance: Norwegian Petroleum Fiscal Policy
From the board room
Coffee/tea – networking break
Challenges of a mature basin
Global fiscal trends and a focus on Norway
Tax-regulations regarding decommissioning costs – An overview of the NCS system
Coffee/tea – networking break
Digital economy and the common consolidated corporate tax base (CCCTB)
Decommissioning and other UK tax developments
End of session
Wednesday 31. October
Morning Meeting Place
Opening and welcome by the chair
A Private Equity Perspective on NCS
US Tax Reform –outbound perspective
US Tax Reform- inbound perspective
Coffee/tea – networking break
2017 Tax Assessment Issues
Looking into the future: tax technology update
Closing remarks by the chair
2013 - : State Secretary, Ministry of Finance
2004 - 2013: Political Advisor Finance, Progress Party Parliamentary Group
1997 - 2004: Senior Auditor Employee, Deloitte & Touche
1998 - 1999: MBA (NHH)
1993 - 1997: Barchelor of Commerce, (BI)
Martin Rune Pedersen
Responsible for Total’s Operated and Non-operated activities in Denmark, Norway and The Netherlands. P&L Accountable for all operations, projects, engineering and drilling activities
Nationality: Danish. Joined the Company in 1997.
Total Copenhagen, DK VP for Norway, Denmark and The Netherlands 2018 -
Maersk Oil Copenhagen, DK Chief Operating Officer 2016 - 2018
Maersk Oil Esbjerg, DK Managing Director Maersk Oil Denmark 2015 - 2016
Maersk Oil Aberdeen, UK Managing Director Maersk Oil UK 2010 - 2015
Maersk Oil Aberdeen, UK Development Director 2007 - 2010
Maersk Oil Copenhagen, DK Head of Reservoir Management & Development 2005 - 2007
Maersk Oil Copenhagen, DK Senior Reservoir Engineer, Team Lead 1999 - 2005
Maersk Oil Dohar, Qatar Well Site and Drilling Engineer, offshore and onshore 1998 - 1999
Maersk Oil Offshore, DK Well Site Engineer, Drilling department 1997 - 1998
World Class Leadership Programme from Havard Business School Graduate Diploma (HD) in Management Accounting and Process Management, Copenhagen Business School M.Sc. in Engineering from University of Aalborg Officer (Captain, reserves) in the Danish Army
Chairman Oil Gas Denmark
Bjørnar is Head of Oil Markets in Rystad Energy and manages the Oil Markets Team. He is product manager for the Oil Market Solutions (Oil Market Analytics, OilMarketCube and Oil Market Update) and is Rystad Energy’s main expert on oil market fundamentals and macro. He also contributes to UCube’s liquids production data and Rystad Energy’s house view on the oil market. Bjørnar also contributes in various consulting projects involving oil market analysis. Bjørnar holds a Master of Science degree in Industrial Economics and Technology Management from NTNU (Siv.ing.) and also a mechanical engineering degree (BSc.) from the Oslo University College (HiO). He has previously worked for Nordea Markets, the financial brokerage arm of the largest bank in the Nordic region, as a Commodities Strategist primarily focusing on the oil products markets. He has also worked for Orkla Finans, the investment brokerage subsidiary of Orkla.
As Head of Upstream Policy for Oil & Gas UK, Michael Tholen seeks to promote the competitiveness of the UK Continental Shelf and position the industry at the heart of the energy transition. His team is responsible for managing industry’s relationship with the UK, and Scottish Government and the EU on all exploration and production activity and for providing insightful market intelligence. The team’s remit also included fiscal policy, decommissioning and energy policy. He was co-author of the ‘Wood Review’ led by Sir Ian Wood which led the creation of the Oil and Gas Authority. Previously, he worked with Shell for 20 years, in the UK and internationally, in a variety of engineering and commercial roles. He is a Fellow of the Institution of Mechanical Engineers and a regular commentator on the energy scene.
Graham has over 30 years experience as a petroleum economist, specialising in the modelling and analysis of global petroleum fiscal systems.
He has advised several governments on petroleum fiscal policy, most recently Colombia, Ireland, Newfoundland & Labrador (Canada) and South Africa. He has also advised numerous IOCs and oil industry associations during debates with governments on appropriate terms (e.g. Alaska, Australia, Nigeria and UK).
Graham oversees Wood Mackenzie’s fiscal information gathering, modelling and reporting and is the lead author of Wood Mackenzie’s multi-client reports comparing global fiscal systems. The latest study is “A balancing act: global fiscal trends and benchmarking” (October 2016). He also has wide experience delivering training courses in petroleum economics and fiscal analysis around the world.
Graham graduated in Economic Science from Aberdeen University and earned a masters degree (M Litt) for his thesis on ‘Oil Field Abandonment in the UKCS’. He previously worked for Petroconsultants, two independent oil exploration companies and as a Research Fellow in Aberdeen University’s Economics department.
He is a member of the Association of International Petroleum Negotiators (AIPN) and is a regular speaker at industry conferences.
Aleksandrs is a Senior Petroleum Economist at Wood Mackenzie and covers oil and gas taxation developments in Europe. Aleksandrs regularly publishes insights with detailed economic analysis of tax changes. He also looks after fiscal models used in Upstream Research for asset valuations. Aleksandrs often travels within his region of responsibility to maintain and develop a wide network of research contacts, and to support clients of Wood Mackenzie.
Aleksandrs joined Wood Mackenzie in 2010 as an Analyst for Russia Upstream Research. He spent four years in the team, having acquired a deep understanding of the Russian upstream industry, including oil and gas production, costs, taxation and regulation, corporate landscape, Russia’s energy policy and politics. He also covered taxation developments in Central Asia and the Caspian region.
Aleksandrs graduated from the Stockholm School of Economics in Riga with a BSc degree in Economics and Business in 2008. In 2010, he completed a MSc degree in International Economics and Finance at Otto-von-Guericke University in Magdeburg.
Amund assists both public and private clients in major, complex disputes. He is an experienced litigator and has argued a number of significant cases before the Supreme Court. He has also acted as agent for Norway before the EFTA Court.
He currently represents oil companies in tax disputes as well as contractual arbitrations on the NCS.
Amund has been Director General in the Norwegian Ministry of Finance and head of the Tax Law Department. He also has extensive experience as counsel for the Norwegian government in major tax disputes.
Stef van Weeghel
Prof. Dr. Stef van Weeghel is PwC’s Global Tax Policy leader. He is also professor of international tax law at the University of Amsterdam.
Stef’s focus is on tax policy, strategic tax advice and tax controversy. He has extensive experience in cross-border transactions, structuring and dispute resolution. He regularly renders advice and second opinions to clients and to other advisers, on corporate income tax and tax treaty matters and is also consulted by the Dutch government on a regular basis. He acts as counsel and as expert witness in tax matters (for taxpayers and for governments) before Dutch and foreign courts and in arbitration pursuant to bilateral investment treaties and in commercial arbitration.
He was chair of the Permanent Scientific Committee of the International Fiscal Association (IFA) and is chair of the Board of Trustees of the International Bureau of Fiscal Documentation (IBFD).
In 2009/2010 he chaired the Study Group Tax System, a committee that advised the Dutch government on comprehensive tax reform. In 2000 he was a member of the Van Rooy Committee that advised the Dutch government on corporate income tax reform. Prior thereto he was member of a working group at the Dutch Ministry of Finance that worked on revision of the Dutch ruling practice. He also worked on the review of administrative practices in taxation for the European Commission. On various occasions he appeared as expert before the Finance Committees of the Second and First Chamber of the Dutch Parliament and he also appeared before the TAXE-Committee and the PANA-Committee of the European Parliament.
Stef is a frequent speaker at international conferences and authored more than 100 publications on international taxation.
Bob is a Director in EY’s Energy international tax team, based in Aberdeen. He has over 17 years’ experience advising oil & gas exploration, production, infrastructure and service sector companies in the UK and internationally.
Bob is a key contributor to the UK Oil Industry Taxation Committee, in particular on decommissioning and other ring fence issues, and has been heavily involved in key areas of policy change in the UK – including the introduction of decommissioning relief deeds, investment allowance, and supporting the Expert Panel work on transferable tax history.
Bob graduated from Aberdeen University with a first class honours degree, is a Chartered Accountant, and won the John Wood Medal in recognition of 1st place in the corporate tax specialist examination in qualifying as a Chartered Tax Adviser.
Stig Sollund: Cand. Jur. from University of Oslo 1975. Has held various positions at the Norwegian Ministry of Finance since 1980 where his areas of work have included legislation on business taxation, special tax regimes for petroleum production, hydro power and shipping, transfer pricing and tax treaties. His present position is director general for international tax at the Tax Law Department. Mr. Sollund is delegate to the OECD Committee on Fiscal Affairs and Member of its Bureau, Working Party no 6 and its Bureau (on Taxation of Multinational Enterprises). He was a member of the United Nations Committee of Experts on International Cooperation in Tax Matters for twelve years (2005-2017) and coordinator of its Subcommittee on Transfer Pricing mandated to develop and keep updated the UN Transfer Pricing Manual for developing countries. He has also served as deputy judge and practiced tax law in the private sector as partner of the Oslo law firms Arntzen & Underland and Bugge, Arentz-Hansen and Rasmussen (BAHR).
Tushar Kumar is part of Kerogen Capital’s Investment and Portfolio Management Team. He has over 16 years’ experience in investing, investment banking and equities, working with a range of oil and gas companies including upstream, downstream, majors and national oil companies across Europe, the Middle East and Asia. He has experience in investing in the energy sector as well as strategic advisory, particularly focused on M&A, IPOs, debt and equity financing as well as balance sheet restructuring. Prior to joining Kerogen, he was an executive director at Morgan Stanley’s natural resources group in London, having previously worked with members of the Kerogen team at J.P. Morgan’s energy and natural resources group in Hong Kong.
Tushar holds an MBA from the Indian Institute of Management Ahmedabad (IIMA) and a BTech in computer science and engineering from the Indian Institute of Technology (IIT). He is also a CFA charter holder.
Tushar is a board member of Pandion Energy, IGas and an alternate board member of Zennor.
• 1996 – 2001: Deloitte Tax & Legal Belgium: Tax Manager
• 2001-2010: ExxonMobil: Various tax positions in the Netherlands and Belgium
• 2010 – 2012: ExxonMobil – Dallas: Planning & Finance tax advisor
• 2012 – 2014: ExxonMobil – Dallas: Corporate Strategic Planning advisor
• 2014 – 2016: ExxonMobil – Fairfax & Houston: Treasurers credit manager
• 2016 – present: ExxonMobil – Houston: Senior Tax Counsel
Mr Landy has been working at the intersection of energy and finance for almost 30 years. A native of Atlanta, Georgia (USA), he is permanently based in Oslo, Norway, where he has been leading the international tax function at Equinor (formerly Statoil) for more than 10 years. As a PhD candidate in financial economics, Mr. Landy was a lecturer on derivative valuation and accounting, and researched on how equity markets respond to derivative reporting in the financial statements of medium and large publicly traded enterprises. As an active member of the Executive Committee of the ITIC Board of Directors, Mr Landy often supports capacity building as a lecturer on petroleum tax design in emerging or reforming jurisdictions. Mr Landy’s wife is a medical doctor, specializing in psychiatry. They currently reside in London with their three children and a large dog who loves distance running with his people.
VP, Head of International Tax Equinor since Oct 2007
Head of Accounting Principles and Transaction Support, Norsk Hydro 2006-2007
Director, Enron Nordic Energy 2001-2004
Regional Manager, Enron 2001-2003
Director Enron 1998-2001
International Tax Manager, PWC, 1996-1998
Tax Consultant, Arthur Andersen 1994-1995
Sales and Project Manager, Nova International 1988-1992
BI Norwegian Business School, PhD (abd) 2008
Georgia State University, Masters, Taxation 1992-1994
American University, Masters, International Relations 1986-1988
Vanderbilt University, Bachelors, European History 1982-1885
Heidi Golimo Simonsen
2005- Oil Taxation Office (director of Tax Audit Department since 1st Nov 2012, Section Head since 1st Sep 2010,)
2002-2005 Office of the Auditor General of Norway (executive officer)
1998-2002 Studies at NHH, master in business and economics(”siviløkonom” )
Jan B. Jansen
Jan has been working closely with the oil and gas business in Norway since 1986,as advisor in petroleum law matters, transactions and as counsel in litigation. He has represented a number of the largest companies active on the Norwegian Continental Shelf, including Equinor(former Statoil), Shell, ExxonMobil, BP and TOTAL, as well as the Norwegian State. Jansen has a thorough understanding of the oil and gas business and challenges facing the companies.He has represented most of the large E&P companies in tax litigation, and has successfully pleaded many of the very notable tax cases for the industry.He has also worked on insurance matters, advising insurance companies on claims handling, and represented them in litigation. He has also represented several lawyers and law firms in professional indemnity claims. Jan is acting in litigation on a large variety of cases in the civil courts and in arbitration, and is also appointed as arbitrator in commercial disputes. Jansen has been teaching general tax law and Petroleum Tax Law at the University of Oslo over a number of years.
Joe Spadaro is currently the Vice President, Head of Sales - EMEA for ONESOURCE Corporate Tax Solutions at Thomson Reuters. Previously, he has worked in both the Corporate Tax and Knowledge Solutions businesses within Thomson Reuters Tax & Accounting in various Client Service, Sales, and Executive roles. He has been with Thomson Reuters for over 20 years focused on tax technology and process improvement within the corporate tax function.
Joe has also worked for Ernst & Young, PwC, and General Motors in various tax & accounting related capacities.
Joe has both a B.S. in Professional Accounting, as well as an MBA from Michigan State University.
Jim Robertson B.Acc CA CTA FCMA was global head of oil & gas tax in Shell for 11 years. He is now a Senior Fellow of ITIC, a nonprofit research & education foundation based in Washington DC. In that role he delivers capacity-building programs to tax officials in developing countries together with the IMF, OECD and UN. He is a member of the UN Subcommittee on Extractive Industries Taxation Issues for Developing Countries and the conference committee of the Norwegian Petroleum Association.
In the UK Jim chairs the academic board of the Advanced Diploma in International Tax of the UK Chartered Institute of Taxation and the Scottish Tax Policy Forum, a joint venture between the Institute of Chartered Accountants of Scotland (ICAS) and the Chartered Institute of Taxation. He is a member of the ICAS Scottish Taxes Committee and was on the ICAS Governing Council from 2014 to 2018.
Jim qualified with PwC in 1981 and joined Shell the same year. He had nine different tax and finance roles in Shell and lived in London, The Hague, Kuala Lumpur, Aberdeen and Houston, including 11 years as global head of upstream oil & gas tax, until he retired in 2017. In Shell he was a founder member of the Finance Social Investment Network which connected staff to voluntary organizations in need of finance skills and experience. He had global responsibility for promoting Finance professional qualifications and for communications on diversity & inclusion. He set up and ran a course called Engaging Men in Gender Diversity, attended by 250 male supervisors in 11 locations worldwide.
Jim was on the UK Oil Industry Taxation Committee steering group and chair of the UK royalty committee. Globally, he was a member of the Professional Development Curriculum Committee of the Tax Executives Institute and chair of the Oil & Gas Tax Executives Group. His speaking engagements have included Global Tax Trends, Transfer Pricing, Enhanced Taxpayer Relationships, Managing Taxes, Permanent Establishments, Learning & Development, Business Ethics and various seminars on offshoring/migration of tax work, tax accounting, oil & gas tax, LEAN/Six Sigma, diversity and volunteering activity.
Norwegian Petroleum Society (NPF), Lilleakerveien 2A, 0283 Oslo
Scandic St. Olavs Plass
St. Olavs plass 1, 0165 Oslo
NPF personal members NOK 11,900 plus 25% VAT
Non-members NOK 13,400 plus 25 % VAT
The fee includes:
– Conference papers
– Conference Dinner
Membership of the Norwegian Petroleum Society (NPF)
We offer conference participants to purchase membership of NPF together with registration and payment for the conference:
- 1 year membership for conference participants – with affiliation to NPF Oslo / Polyteknisk Forening (PF Olje) (NOK 1,700)
- 1 year membership for conference participants – other local charters (NOK 1,000)
Select the Membership price at the top of the registration form and check the desired membership type further down below the Participant information fields. The total price will be updated automatically before the registration is confirmed and you proceed to payment.
Payment can be done upon registration by credit card (Master Card/Visa) on our website. If you do not want to pay with creditcard, you can ask the project manager to send you an invoice from Norwegian Petroleum Society (NPF). Please note that by choosing invoice you will be submitted to a fee of NOK 100. All international payments must be approved before the conference starts.
Cancellations must be received in writing by 15th October 2018, and will be subject to a cancellation fee NOK 2,000 unless a substitute delegate is offered. After this date, the full registration fee will apply, however, substitutions will still be accepted. Substitutions for registered delegates may be made at any time, but we would appreciate prior notification.
In case of cancellation of the conference by the Norwegian Petroleum Society, (NPF), the participant will be refunded the conference fee and/or the exhibition fee. Other expenses the participants may have are not refunded, and is not the responsibility of NPF.
Presentations from the conference will be available after end of conference. Delegates will be informed when available via e-mail.
It is sometimes necessary to change timing of the programme. The conference organiser will not be liable for any such unavoidable changes.
We have pre-booked a number of rooms at Scandic St. Olavs plass. If you need a room please contact the hotel directly (Booking Code- BPET291018). Please note that accommodation is not included in the conference fee.
Scandic St. Olavs Plass: Single room, NOK 1.590,- incl. VAT and breakfast.
Tel: +47 23 15 56 00. E-mail: firstname.lastname@example.org
For more information please contact:
Tel: +47 455 07 475