Marsh National Oil Companies Conference draws key players to discuss global energy risk issues

At the conference, held on 26 and 27 February at the Madinat Jumeirah under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, the region's leading oil companies will discuss in depth with their international peers current and future risk issues facing national oil companies (NOCs) globally. So far, over 400 senior government and industry delegates from over 40 countries have registered to attend.

Jim Pierce, Chairman of Marsh's Global Marine and Energy Practice commented:

"National oil companies face significant risks, these range from the controllable, such as safety procedures at a refinery, to the uncontrollable, such as the threat of hurricanes, to the desire for environmentally friendly energy sources. In this kind of environment, it is vital not just to understand potential financial impacts, but to address these risks strategically. With so much of the world's resources in their hands, national oil companies have a significant opportunity to limit the world's energy risks by mitigating their own business risks. Clearly, some of the risks that these companies face are risks that energy consumers ultimately face as well."

"This conference has attracted senior representatives from many national oil companies around the world eager to discuss operational, financial and strategic risk in their operations and will set the agenda for how NOCs will address risk issues in 2008 and beyond."

The Conference will be addressed by some of the most respected leaders and commentators in the energy sector. Drawn from NOCs, professional service firms, governments, and executives from Marsh & McLennan Companies (MMC) they include: Sheikh Faisal Al Thani (Maersk Oil Qatar), David Anderson (BP), Bader Al Shumaimri (Kuwait Petroleum Corporation), Petter Kapstad (StatoilHydro), James Ferguson (Halliburton), Dr. José Manuel Carrera (Petróleos Mexicanos), Edward Morse (Lehman Brothers), Dr. Mohammed Benayoune (Former CEO of Oman Polypropylene), Matthew Simmons (Simmons & Company International) and Adrian Slywotzky (Oliver Wyman).