Add to Calendar 2023-06-07 00:00:00 2023-06-08 14:00:00 Europe/Oslo Oil & Finance 2023
Energy in uncharted territories
Lysebuveien 12 Norsk Petroleumsforening Oil & Finance 2023
Energy in uncharted territories
_2023-06-07 00:00:00
07. to 08. Jun 2023

Oil & Finance 2023
Energy in uncharted territories


Oil & Finance Conference 2023

Energy in uncharted territories

The turbulence in energy markets continued through 2022 with the continued war of aggression against Ukraine and disruption of natural gas supplies to Europe. Imports of Natural Gas from Russia to the EU have been significantly reduced. This reduction has mainly been compensated for by a sharp increase in imports of LNG, particularly from the US. Europe will need alternative natural gas supplies for years to come. The challenges facing the energy markets are no longer focused only on energy transition. Security of supply and affordable energy for all is strongly on the agenda, in Europe as well as globally. What are the outlooks for oil and gas markets? High oil and gas prices have strengthened revenues for oil and gas companies, but will their main strategies still be to find, develop and produce hydrocarbons as cheaply and efficiently as possible when energy is expected to stay in uncharted territories?

In addition to updates on oil and gas markets, we will have presentations from companies relevant for the actual situation in the industry. Presentation and panel discussion with representative from RBL banks, financial advisers and other capital providers represented, covering the equity and debt markets, both on the public and private side, as well as alternative financing solutions. Focus on recent trends and shifts in the market and what to expect when it comes to funding availability going forward.


In a pleasant environment at Lysebu, the 2023 Oil & Finance Conference also offers you plenty of opportunity for networking.



On behalf of the program committee,
Morten E. Lindbæck, (Chair)





Wednesday 07. June


Lunch and Registration


Opening remarks

Morten E. Lindbæck, Chair of the Program Committee


Teodor Sveen-Nilsen, Equity analyst, Sparebank 1 Markets

Teodor Sveen-Nilsen, Equity analyst, Sparebank 1 Markets, updates on what has happened since last year’s conference


Lars Erik Aamot, Ministry of Petroleum and Energy gives an updated status on the NCS


Jack Sharples, Oxford Institute for Energy Studies, informs about the European Gas Supply: Recent Developments and Short-Term Outlook


Greg Roddick, Wood Mackenzie, presents NCS from an international perspective


Refreshments and Networking


Tore Sitje, Partner, Corporate Finance hos Arctic Securities

Anders Wittemann, Chief analyst, Wittemann E&P Consulting, gives an informative update on NCS trends and opportunities


Cyryl Federowicz, CFO, PGNiG, will inform us about implementation of the gas strategy on the NCS


Nicolai Lyngø, CEO, Sval Energi, presents Growth and strategy, keys for success on NCS


Refreshments and Networking


Ida Ianssen Lundh, VP Business Development M&A, OKEA ASA , will update us on Key BD considerations for acquisition of tail end assets


Jeremy Low, Head of European Oil & Gas, Houlihan Lokey, reflects upon dealing with majors regarding asset deals and exits - what do we see?


Stig Klausen Engelhart, BAHR, presents an M&A Deal Study on the NCS with a focus on trends and solutions in Norwegian E&P transactions


Wine tasting



Thursday 08. June



Chair: Jarand Lønne, Head of Natural Resources Investment Banking, SpareBank 1 Markets

Ananya Modi, Rothschild & Co, Update on E&P financing - international perspectives


Thomas Bethel, Herbert Smith Freehills LLP & Atle Gabrielsen, Wiersholm, will give a status update of RBLs on the NCS and internationally


Fridrik Agustsson, Pareto Securities AS, Will inform us about Bond financing for upstream E&P


Panel discussion

Moderator: Jarand Lønne, SpareBank 1 Markets



Coffee and Networking


Joachim M. Bjerke, Partner, BAHR

Katrine Jokstad Kvanvik, Senior Legal Counsel Harbour Energy Norge AS & Torkjel Grøndalen, Partner, Schjødt, inform us about CCS and CO2 storage capacity – impacts and opportunities for oil and gas producers on the NCS


Carole Nakhle, CEO, Crystol Energy, elaborate on Energy markets outlook: expanding production capacity


Peter Hiorth, Specialist in Oil and gas law, Schjødt, will inform us about transaction structures and approvals under section 10 of the Petroleum Tax Act


Ingvild Brandal Gaasemyr, Ministry of Finance, comments on approvals under section 10 of the Petroleum Tax Act




End of conference

Have a safe trip home!

Thomas Bethel

Partner Energy, Natural Resources and Infrastructure Finance, Herbert Smith Freehills LLP

Thomas is an energy finance partner with particular expertise in upstream oil and gas financings. He is one of the most experienced lawyers in the English law upstream oil and gas financing market. Over more than 15 years he has worked on well over 50 financings and refinancings in the sector, across Europe, Africa, the Middle East, Asia and North America. His experience also extends to complex project financings and restructurings in the energy sector.

Thomas' experience includes advising on the lender-side of deals involving all the major oil and gas banks in the market. He also regularly acts for borrowers, giving him a balanced understanding of the expectations of all parties. His approach is commercial and pragmatic, with a focus on finding solutions to structuring issues and points of negotiation to allow deals to proceed to closing efficiently.

Thomas has recently worked on a number of acquisitions in the upstream sector, for banks and private equity funds, and on a number of deals involving non-bank lenders.
Early in his career Thomas undertook a secondment to the commercial team of a leading oil and gas bank, giving him valuable commercial insight which he has carried forward and developed through his career. As a senior associate he was seconded to the firm's Middle East practice, working on a variety of project financings, Islamic financings and restructurings.

Thomas holds an M.A. in law from the University of Cambridge and is listed as a ‘Leading Individual’ in Legal 500 UK, recommended for Trade Finance, Bank Lending and Acquisition Finance.

Dr Carole Nakhle

Chief Executive Officer, Crystol Energy

Dr Carole Nakhle is the founder and Chief Executive Officer of Crystol Energy, an advisory, research and training firm in the UK.
She is an internationally recognised authority on the interplay between economics, energy, governance and geopolitics. With a unique breadth of experience gained from working across a wide spectrum of stakeholders, Dr Nakhle worked with major energy companies (Eni, Statoil) at the executive level, governments and policy makers (including Special Parliamentary Advisor in the UK), international organisations (Commonwealth Secretariat, IMF, United Nations and World Bank), as well as academic institutions and specialized think tanks on a global scale. She sits on the Governing Board of the Natural Resource Governance Institute (NRGI) and is Lead Energy Expert with the Geopolitical Intelligence Services in Liechtenstein.

Dr Nakhle has lectured at leading academic institutions, including: the Blavatnik School of Government at Oxford University, Dundee University and University of Surrey in the UK, The Graduate Institute in Geneva, Saint Joseph University in Lebanon, The National Defense University in the USA and Nato Strategic Direction South Hub in Italy.

She has published extensively and is an avid commentator on energy in the international media and at major conferences and industry gatherings. She is the author of two widely acclaimed books: Petroleum Taxation: Sharing the Wealth published in 2008 and re-printed in 2012 and used as primary reference in leading universities and industry training courses; and Out of the Energy Labyrinth (2007), co-authored with Lord David Howell, former Secretary of State for Energy in the UK.

An avid supporter of gender balance, in 2007, she founded the not-for-profit organisation ‘Access for Women in Energy’, and has supported the development of similar initiatives in Ghana, Tunisia and the UAE. She also provides mentoring support to young people around the world.

In 2022, Dr Nakhle featured in the ‘Top 22 Outstanding Women CEOs of 2022’ published by the New York based magazine The Women Leaders. A year earlier, she was selected ‘CEO of the Year’ in the UK, by CEO Monthly Magazine. In 2020, she was awarded the prestigious Fellowship of the Energy Institute and featured on the Energy Council’s list of Top Female Executives in the global energy industry. In 2017, she received the Honorary Professional Recognition Award from the Tunisian Minister of Energy, Mines & Renewable Energy.

Practical information

Norwegian Petroleum Society (NPF)

Members of Conference Committee:

  • Morten E. Lindbæck, Ministry of Petroleum and Energy (Chair of Committee)
  • Erlend Bakken, Advokatfirmaet Schjødt
  • Tore Orm Sitje, Arctic Securities
  • Jarand Lønne, SpareBank 1 Markets
  • Marit Moen Vik-Langlie, OKEA
  • Ole Kristian Busterud, DNB Bank
  • Joachim Bjerke, BAHR

Conference language:

Lysebu, Lysebuveien 12, 0712 Oslo, Norway
Telephone: +47 21 51 10 00

Conference fee: 

  • NPF personal members NOK 11,400 plus 25% VAT
  • Non-NPF-members  NOK 12,900 plus 25% VAT

The fee includes:

  • Coffee/tea
  • Lunches
  • Conference Dinner
  • Access to the presentations after end of conference.

Membership of the Norwegian Petroleum Society (NPF):
We offer conference participants to purchase membership of NPF together with registration and payment of the conference. 1 year membership for conference participants is NOK 1,000. Reduced membership fees apply for young professionals under the age of 34, students and seniors.

Payment: 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 information there will be added a fee of NOK 150 to the total amount. All international payments must be approved before the conference starts.

Special Offer: 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.

Accommodation:  Lysebu Hotel is now fully booked. Please contact project manger,  for help with room reservation.

Lysebu, Lysebuveien 12, 0712 Oslo. NOK 1,740 per night (incl. VAT) including breakfast. Accommodation to be paid directly to the hotel upon departure. NPF is not responsible for no-shows.

Cancellations: Cancellations must be received in writing by 28th of February 2023 and will be subject to a NOK 2,000 cancellation fee 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.

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 (striks 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.

Conference paper:
Presentations from the conference will be available after end of conference. Delegates will be informed when available via e-mail.

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

For further information please contact:
Norwegian Petroleum Society
Tove Danielsson
Project Manager
tel. +47 452 48 348