DUBAI, 9 February 2007 — World’s leading risk and insurance services firm — Marsh Inc. — yesterday announced it will host the first ever global risk advisory conference of the world’s national oil companies (NOCs) in Dubai on Feb. 26-28.
These state-owned enterprises manage roughly 80 percent of the world’s oil supply and are rapidly growing in their importance to the global energy scene.
The Marsh National Oil Company Conference will feature speakers from Saudi Aramco, Petrobras, Statoil ASA, Nigerian National Petroleum Corporation and other organizations.
Marsh Chairman and CEO Brian Storms will discuss emerging risk topics in the oil and gas industry to open the conference, which is being attended by senior officials, representatives and delegates from dozens of countries.
A broad array of topics will be discussed during the two-day event, including knowledge transfer among NOCs, governance, measurement of enterprise-wide risk, and operational challenges tied to cross-border investments. “It’s increasingly clear that state-owned oil companies will play a major role in determining where the world’s petroleum-based energy supplies will come from in the future,” said Jim Pierce, managing director of Marsh’s Global Marine & Energy Practice.
“We’re proud to bring together many of the world’s NOCs and host this important gathering of international energy executives, experts and business leaders.”
Over the course of two days, the conference will feature both presentations and breakout sessions that address the NOCs transition from their respective national stages to a global platform. “We expect this ongoing shift will have far-reaching ramifications for governments, businesses and consumers,” said Andrew George of Marsh’s Marine & Energy in Dubai.
“We’re hopeful this conference will promote an open dialogue on the risk issues and business challenges NOCs face, and foster greater awareness and collaboration among companies that are assuming critical leadership roles in the global energy market.”
