Add to Calendar 2020-10-27 08:30:00 2020-10-27 00:00:00 Europe/Oslo Webinar:
Annual Petroleum Economics Conference 2020
Norsk Petroleumsforening Webinar:
Annual Petroleum Economics Conference 2020_2020-10-27 08:30:00
27. Oct 2020

Annual Petroleum Economics Conference 2020


Annual Petroleum Economics Conference, 27th October.

Conference language: English

Due to the increasing spread of Covid-19, the Norwegian Petroleum Society (NPF) has decided to arrange this year’s Annual Petroleum Economics Conference as a webinar.

NPF takes its precautions seriously where health and safety will always be of the highest priority. This goes for the oil & gas sector at large and we have received information from several regarding both travel restrictions and conference bans in the months to come.
It is sad not to be able to physically gather in Stavanger for both professional and social networking. We know that you, like us, have been looking forward to it. NPF will nevertheless do its outmost as an organiser to ensure that this year’s conference will be just as good despite the change in format.

👆 Check out the free online pre-event on Tuesday 20th October at 14:00hrs with Ingrid Sølvberg, Director general of the Norwegian Petroleum Directorate


Dear friends and colleagues,

2020 has been a special year. The Covid-19 pandemic and the massive drop in market prices has had major impact on our country and industry.  The Norwegian state is supporting the oil & gas industry by implementing new tax measures, which strengthens liquidity and helps projects being economically robust also in a low price environment. This year’s conference will give you everything you need to know about the market environment and the outlook going forward. We will also touch on the newly implemented tax change from various perspectives.

Times are tough, but people and markets are tougher. Looking forward and generating long-term business opportunities is one of the key responsibilities of the E&P professional. We will give you methodology insight around value creation in exploration and the energy transition to a sustainable low carbon future. How will E&P companies allocate funding when projects are so different in terms of business models, profitability and risk? These are topics, which will be touched upon at this year’s conference. Please make sure you check out the full program.

On behalf of the organizing committee, a very warm welcome to the Annual Petroleum Economics Conference.


Reidar Haver, OMV Norge
Chair of the Conference Committee


Tuesday 27. October



Reidar Haver, OMV, Chair of the Conference Committee


Aslak Palmstrøm-Augestad, Aker BP

Opening Speech

Lars Erik Aamot, Director General , Ministry of Petroleum and Energy

Macro and financial markets update

Øystein Børsum, Chief Economist and Credit Strategist, Swedbank

Oil Market Turmoil

John Olaisen, Analyst, ABG Sundal Collier

NCS Company Landscape with global perspective

Simon Sjøthun, Partner, Rystad Energy

NCS Trends and Transactions

Anders Wittemann, Owner, Wittemann E&P Consulting



How Value of Information Improves Clarity of a Decision?

Trygve Botn, Founder & Decision Science Consultant, ThinQ Decisions (TQ Decisions)

Why do most economists avoid full probabilistic exploration project assessments?

Charles Stabell, Managing Director, Decision Resources & Designs



Paul Quirke, Equinor

Exploration portfolio evaluation: Industry perspective

Silje K. Teveldal, Portfolio Analyst, Aker BP

"Window of opportunity" - NCS Tax Change and impact on industry

Ellen Bakken, Chief Economist, Norwegian Oil and Gas Association

Equinor’s climate ambitions, how will the company secure low carbon and high value in the future

Ann-Cathrin Vaage, Leading consultant, Equinor



Norwegian gas in the future energy mix

Alfred Skår Hansen, SVP System Operation, Gassco

An IOCs perspective: How does Norwegian climate initiatives fit in a global investment portfolio?

Jean-Philippe Hiegel, CCUS Business Developer, Total

How will the ESG focus affect energy share prices?

Peter Hermanrud, Chief Strategist, Sparebank1 Markets


Reidar Haver, OMV, Chair of the Conference Committee

Trygve Botn

Founder & Decision Science Consultant, ThinQ Decisions (TQ Decisions)

Key Highlights:
• Founder & Decision Scientist Consultant at ThinQ Decisions – a company that provides strategic decision-making support under risk and uncertainty.
• Held several lead and advisory roles as a Decision Scientist in Chevron in Norway, USA, and Kazakhstan with responsibility for decision-making and Decision Quality.
• Supported a broad range of strategic investments and portfolio decisions for the energy and oil/gas business: petroleum exploration & production, business development, technology & R&D, and developments of renewable energies.
• Contributor to Chevron’s award-winning decision-making practices (e.g. INFORMS 2015, Raiffa-Howard Award 2014 ++).
• Certified Lead Practitioner in Decision Analysis from Society of Decision Professionals.

Work Experience:
2019 – Present ThinQ Decisions, Norway
Title: Founder & Decision Science Consultant

Chevron Corporation
2015 – 2019 Tengizchevroil Joint Venture Company, Kazakhstan
Title: Decision Lead, Internal Consulting Group - Projects
2013 – 2014 North America Exploration & Production, Houston, USA
Title: Decision Advisor, Deepwater Gulf of Mexico
2011 - 2012 Chevron Technology Ventures – Emerging Energy, Houston, USA
Title: Commercial & Decision Analyst
2006 – 2010 Chevron Norge, Norway
Title: Commercial Analyst
2004 – 2006 Chevron Norge, Norway
Title: Asset Accountant (Consultant)

2002 – 2004 BI Norwegian Business School – Master of Science in Business Administration, Major in International Management
Exchange program: Case Western Reserve University, OH., USA
1999 – 2002 BI Norwegian Business School – Bachelor of Science in Business Administration, Major in IT Management

Charles Stabell

Managing Director, Decision Resources & Designs

In his role as co-founder and CEO of GeoKnowledge, Charles has more than 25 years’ experience in leading development, sale and implementation of exploration decision support solutions in the petroleum industry. He has also been involved in consultancy projects on best practice exploration decision making, play assessment and prospect assessment. He has both designed and delivered training with a common core related to assessment of risks, resources and full cycle economic value at the play, prospect and portfolio level. In his academic career (that overlapped with the initial phases of his role in GeoKnowledge) Charles taught, consulted and researched in business strategy, leadership, organization development and technology management.

Relevant Work Experience
Managing Director, Decision Resources and Designs, 2014 –
Advisor, Schlumberger Information Systems, 2012 - 2014
Chairman of the Board and Director Strategic Development, GeoKnowledge, 2008 – 2012
Managing Director (CEO), GeoKnowledge, 1994 – 2008
Key Designer of GeoX system for play and prospect risk, resource and value assessment 1989 – 2014.

Academic background
Ph.D. Sloan School of Management, Massachusetts Institute of Technology (MIT)
MBA McGill University, Montreal, Canada
B. Eng. Ecole Nationale Superieur d’Electronique et de Radioélectricité de Grenoble
(ENSERG), Grenoble, France

Other professional experience
1984 - 2000 Professor, Strategy, Norwegian School of Management, Oslo, Norway
1978 – 1983 Professor, Computers and Information Systems, Norwegian School of Economics & Business Administration (NHH), Bergen, Norway
1974 – 1978 Assistant Professor, Information Systems, Graduate School of Business, Stanford University, Palo Alto, California

Practical information


Norwegian Petroleum Society (NPF)

Conference language:


Webinar details:

All participants will receive an e-mail with an invitation link the day prior the webinar. The link is personal, and you will be asked to enter name and company.

As a participant you will follow the webinar via a PC, Mac or smartphone/tablet. Internet access and web browser is therefore vital in order to attend.

There will be a short Q&A session after each presentation, and you will have the opportunity to ask questions directly to the presenters.

Presentations from the webinar will be available for download after end of conference. Participants will be informed when available by e-mail.

Conference fee:

NPF personal members NOK 2,900 plus 25% VAT
Non-NPF-members NOK 4,400 plus 25 % VAT

Payment can be done upon registration by credit card (Master Card/Visa/AmEx) or by invoice. If the invoice needs to be changed due to wrong or missing information there will added a fee of NOK 150 to the total amount. All international payments must be approved before the conference starts.

Special Offer!

  • We give quantity discounts to companies that register more than 10 participants.
  • Bring a colleague under 30 years of age for half price! Participant no. 2 or more under the age of 30 years from the same employer receives a 50% discount.

Contact the Project Manager for more information and registration.

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 NOK 1,000


Cancellations must be received in writing by 12th October 2020, and will be subject to a cancellation fee NOK 1.000 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.

Programme changes:

It is sometimes necessary to change timing of the programme. The conference organiser will not be liable for any such unavoidable changes.

Force majeure

Events beyond the control of the NPF – for example, but not limited to, extreme weather conditions, acts of war, terrorism, transportation shut-down (strikes or accidents), government regulation or advisory including travel warnings, serious illness or epidemics that makes it impossible to fulfill the obligations of conducting the conference entitle NPF to cancel the event without liability.


For further information please contact:
Norwegian Petroleum Society
Kristin Øinæs
Project Manager
tel. +47 455 07 475