C

Cripps Sears & Partners proudly sponsor the 31st Annual Dinner of the Scottish Oil Club

Cripps Sears & Partners proudly sponsor the 31st Annual Dinner of the Scottish Oil Club

Cripps Sears & Partners is pleased to have sponsored the Annual Dinner of the Scottish Oil Club for the second consecutive year.  2009 was the 31st Annual Dinner the Scottish Oil Club had hosted and the sell out event was a great success for all involved.

As members of the Scottish Oil Club, Cripps Sears benefits from the opportunities it provides to network with a diverse range of companies and to discuss views on the economic, industrial, technological and political sides of the petroleum and energy industry.

The Annual Dinner offers a chance to hear speakers of international acclaim and to discuss current issues affecting the energy industry.  This year the Oil Club invited Ayman Asfari, Group Chief Executive of Petrofac, as the Principle Guest Speaker.  With over 25 years of experience in the industry, Asfari joined Petrofac in 1991, establishing Petrofac International and was appointed to his current position in 2002.

In his speech to the Club, Asfari highlighted the need to sustain investment in the North Sea and called for the government to make changes to allow continued investment in current and new assets for the region.  He called for a progressive tax system which tracks the price of oil and is more appropriate to the current economic climate.  His thinking behind this tax is for a fair balance between risk and reward, overhauling the current supplementary tax system which was designed in a more prosperous era when the price of oil was rising.  By offering incentives to invest in the region, considered the second most expensive place in the world to produce oil, Asfari hopes that decline in North Sea production may be minimised.

John Simonett also appeared as Guest Speaker, topically tying in with another prominent event occurring on the same date, that of the Rugby International Match between Scotland and Ireland at Murrayfield.  John, as well as being a former schoolmaster, was a member of the Scottish Rugby Union squad and played in the Gloucester team, which won the John Player Cup at Twickenham in 1978.

The 31st Annual Dinner of the Scottish Oil Club was held on Friday, 13th March 2009, at the Sheraton Grand Hotel & Spa, Edinburgh.  The Dinner proved to be a very enjoyable experience for Managing Partner Michael Cripps and Partner Andrew Somerville who shared their evening with a table of insightful and entertaining Senior Level Executives and Professionals from oil and gas companies, service companies and law firms.

S