dogma

▲ Sterling Resources                                                                                                                                             2012 - 2017

 

> Vice President - Business Development                                                                                               

Responsible for all business development activities including: new business opportunities; farmins and farmouts; corporate and asset acquisitions; evaluation of corporate mergers; portfolio development and planning, support CEO for strategic planning; evaluation, due diligence and economic analysis of asset acquisition opportunities. Business assets located in Romania Black Sea offshore, UK Continental Shelf (UKCS), Netherlands North Sea and onshore France.

 

Representative Projects & Transactions (2012-2017):

● Sale of Sterling Resources UK Limited (UK subsidiary holding UK & Netherlands assets and 100% of underlying assets of company) to Oranje Nassau Energie for headline consideration of $163m with net proceeds to shareholders of around CDN$0.97-CDN$1.02 per share in comparison to a share price at time of announcement of CDN$0.59. Negotiation of deal and Share Purchase Agreement and securing of shareholder irrevocable undertakings (announced March 2017; closed May 2017)

● Managing strategic review process - sale of Breagh gas field and potential corporate options with support from Jefferies; approached in excess of 50 potentially interested parties; entered into CAs with around half of that group; (2Q2015-1Q2016)

● Sale of UK Onshore license (2016)

● Negotiation of deal to sell Sterling's entire Romanian business to Carlyle Group - selling 54mboe contingent resource for $42m and 3 Licenses (4 Blocks) in shallow offshore Romania covering 937,000 acres net to Sterling; Negotiated all the definitive agreements (2Q 2015).

● Negotiated farmout of 40% working interest in Beverley license, UKCS to Shell; resulted in full carry of commitment well for Sterling's remaining 20% working interest (2012);

● Managed farmout process of Romanian offshore licenses and Romanian corporate sale (2012 & 2014-15);

● Managed farmout process for UKCS exploration licenses (2014-2015);

● Negotiated farmout with Taqa for Sterling's Cladhan interest in order to fund Sterling's remaining capex; resulted in full carry on Sterling's remaining development expenditure (2013)

● Renewing Gas sales agreement for Breagh sales gas offtake (2016)

● Developing strategic alternatives for company growth; evaluating potential asset and corporate acquisitions, mergers.

 

▲ Marathon Oil Company (Houston, Texas, USA)                                                                                                2002 - 2012

 

> Director - Commercial & Negotiations, Business Development                                                                    2006 - 2012    

Head of the Commercial & Negotiations(C&N) team comprised of, over time, between 5-15 professionals located in Houston and London. Accountable to Marathon executive management for overall direction of commercial transaction activity, deal structure and negotiation strategy, commercial process quality control, negotiation leadership and deal delivery. The C&N team was responsible for leading transaction definition, negotiation and delivery involving Marathon's material acquisitions and dispositions, major investment and expansion projects, material new country entry negotiations and major joint ventures across Marathon's worldwide business covering activity in global business development, worldwide exploration, gas technology commercialization and major projects (>$50m) in the International and North American operations organizations. C&N Team's responsibility included value proposition definition, deal and transaction structuring, contract development, securing internal alignment of corporate functions, commercial due diligence, negotiation strategy definition and lead negotiations and deal closing.

 

Representative Projects & Transactions from 2006-2012:

● New country entry into major unconventional shale play with 150,000 acres - due diligence, evaluation, above ground risk assessment; deal structuring (2011-2012)

● Corporate acquisition of Hilcorp - $3.5Bn company with 140,000 acres in Eagleford shale play - commercial due diligence; sale and purchase agreement; (2011)

● Alaska North slope major farm-in offer - developing offer; memorandum of understanding (2011)

● Corporate and asset acquisition opportunities – US domestic and in international focus areas including UK/Norway, West, North and East Africa, Middle East, South East Asia and Australia - evaluation; due diligence; value proposition; (2006-2012);

● Kurdistan new country entry (2010): Negotiations with Kurdistan Regional Government to secure Production Sharing Contracts and entry into 4 blocks;

● US and European unconventional play entry and joint ventures – shale oil and shale gas - including Bakken, Haynesville Shale, Eagleford, Marcellus Shale and Poland - joint ventures; farmins;  (2009-2012)

● Marathon Gas Technology (“Gas to Fuels” - GTF) - initial commercial applications with National Oil Companies (2008-2009); GTF Commercialization arrangements (2007-2009),

● Oil Sands Joint Venture/Western Oil Sands Acquisition - $6Bn - commercial due diligence (2007),

● Equatorial Guinea LNG Train 2 expansion project - deal definition; exploring border cross gas supply options; (2006-2008)

● US Gulf of Mexico developments (2007-2009) - production handling agreement for major development 

● Disposition of $3 billion of European and African assets including 20% Angola Block 32 to Chinese consortium (2008-10) - sales and purchase agreement negotiation;

● Skill development: Chair of Marathon Commercial Development Board (2010-2011) - coordination of personal development for all commercial community in Marathon;

● Developed and ran Marathon 5-day internal Commercial Skills Course / Course Instructor - evaluation, negotiations, deal identification (2002-2012);

 

> Manager - Commercial & Negotiations, Business Development                                                                     2002 - 2006

Establishment and leadership of C&N team. Head of C&N Team. Recruited in 2002 to head up, establish and build a world class commercial and negotiations deal team for Marathon Oil Company's business development organisation. Successfully built a team of 11 experienced professionals in 12 month period with broad LNG and integrated gas and E&P skill sets covering the full value chain of the global LNG business, major gas pipeline projects and international joint venture development for oil & gas projects. Developed commercial & negotiations process including contracts tracking, contracts review and sign off, negotiation preparation and management reporting. Established and developed the Marathon 5 day Commercial skills course and the Associate rotation program (6 month development placement for graduates);

 

Representative Projects & Transactions from 2002-2006:

● Equatorial Guinea LNG (EGLNG) Train 1 project - negotiations directly with the Government of Equatorial Guinea during the 2 year negotiations period; secured the Investment Agreement with the Government unique to the LNG project and key fiscal incentives; (2002-2004)

● Seconded by Marathon as Managing Director of EGLNG JV upon FID of EGLNG mid 2004 (2004-2005) - see below

● Commercial arrangements for Marathon Gas to Liquids (GTL) technology package (2005-2006)

● Sales of existing Marathon E&P assets in excess of US$1 billion (2004-2005)

● Definition of a major middle eastern GTL project circa. US$4-5 billion (2003-2004)

● Structuring of a major European North Sea gas pipeline project from Norway to UK (2004-2005)

● Development of a major Mexican west coast LNG regasification project and purchase of long term LNG supplies from Pacific Basin sources (2003-2004)

● Negotiation of purchasing LNG regasification capacity within the Atlantic Basin at Elba Island.(2003-2004)

 

> Non-executive Director for Marathon EGLNG Holding Limited (Marathon shareholder in EGLNG)             2005 - 2006

Attended Board Meetings on a quarterly basis (2005-2006). Representing Marathon’s shareholder interests. Maintained key relationships with EG Government and EG Shareholder (Sonagas GE).

 

> Managing Director, Equatorial Guinea LNG Holdings Ltd (EGLNG)                                                                        2004 - 2005

Representing Marathon Oil Company’s Integrated Gas Business; Upon Financial Investment Decision (FID), appointed Managing Director and Chairman of the Joint Venture company Board; JV leadership responsibility for project construction and for new JV operating company formation for US$1.5 billion joint venture investment between Marathon Oil Company (75%) and GEPetrol (25%)(National Oil Company of Equatorial Guinea) to implement Train 1 of the EG LNG project and achieve first LNG cargo by 4Q 2007. Handed over to new EG resident MD once recruited.

 

▲ Rolls-Royce Power Ventures Limited                                                                                                                            1996 - 2002

Senior Development Manager (reporting to VP Asia-Pacific) Based: (i) Jakarta, Indonesia (1996-1998); (ii) Manila, Philippines (1998-2002); (iii) London (2002) responsible for Eastern Europe projects (2002). Lead Development Responsibility for build-own-operate energy service businesses providing long term captive energy services to large industrial sites of multinational corporations and distributed power supply to government owned and private electrical utility companies.  Projects sized from 10MW to 260MW.

 

Representative Projects & Transactions 1996-2002:

● Eastern Europe - Combined heat and power projects - Repowering of existing combined heat and power (CHP) assets supplying utilities, large industrial complexes and district heating networks; Structuring and negotiating heat and power offtake agreements and gas supply agreements; Project value between US$40 million to US$70 million.

● Romania – multiple small gas-fired CHP project; $50million project cost; negotiated Power Purchase Agreement; Heat Purchase Agreement and Gas Supply Agreement.

● Poland, Warsaw – new CHP plant with 70MW electrical capacity; Polish Oil & Gas gas supply discussions;

● Acquisition of a power company with 10MW installed capacity and 15MW of expansion opportunity in a US Pacific territory - $10 million acquisition and $15 million further investment.

● 10MW diesel power plant for multinational semiconductor manufacturer, Philippines - Submitted proposal under competitive bidding. Won bidding and awarded right to negotiate contract. Power Purchase Agreement, negotiated PPA. US$8 million investment.

● Acquisition of 70% of existing power company / 10MW diesel power plant selling to distribution utility, Philippines: US$10 million investment.

● 10MW ‘waste to energy’ cogeneration project, Philippines: US$10 million investment.

●  7MW boiler and steam turbine cogeneration facility for major multinational, Philippines - Energy Services Agreement.

●  126MW coal fired power plant to sell to PLN (Indonesian grid company), Sulawesi: Preparation of Commercial Proposal.

●  260MW gas fired combined cycle power plant selling to PLN, Sumatra, Indonesia: Commercial Proposal.

 

 

▲ GE Power Systems (Europe)                                                                                                                                 1994 - 1996

Director – Business Development (reporting to CEO-GE Power Systems – Europe) Based: (i) London, UK (1994-1995); (ii) Jakarta, Indonesia (1995-1996). Lead development responsibility for structuring and negotiating strategic alliances and joint ventures to support the global gas turbine manufacturing business.

 

Major joint ventures 1994-1996:

● Jakarta, Indonesia. Multi GE business joint venture with local heavy engineering Indonesian Government owned   company, PT PAL; negotiation of joint venture agreements;

● St Petersburg, Russia. “GE Kirov Turbo-Machinery” – manufacturing joint venture for assembly of heavy duty gas turbines with Kirovsky Zavod; negotiation of joint venture agreements;

● Damman, Saudi Arabia. “Middle East Power Company – MEPCO” – manufacturing joint venture for gas turbines with Tammimi. 49% GE JV - JV deal definition;

 

▲ Premier Oil plc, UK                                                                                                                                                 1992 - 1994

Commercial Manager (reporting to CEO). London, UK. Responsible for all commercial activities including negotiation of agreements for oil and gas projects and assets. Developed and wrote the company’s economic models.

 

Representative Projects & Transactions 1992-1994:

●  Tirana, Albania. “Anglo-Albanian Petroleum” – 50-50 JV with Albpetrol (Albanian National Oil Company) - Patos Marinza onshore oil field redevelopment - negotiation of license;

●  Pakistan – Qadipur gas field – gas sales agreement;

●  Ecuador - Acreage licensing round submission with local partner - application

●  Pakistan - Structured mezzanine project financing for Qadirpur onshore gasfield development from a major American insurance fund manager.

 

▲ Enterprise Oil plc, UK                                                                                                                                          1990 - 1992

Assistant Business Development Manager (reporting to Bus Dev Mgr). London, UK. Responsible for valuation of oil companies for acquisition, valuation of oil & gas assets, disposal of non-core assets, financial analysis and economic modeling, strategy review, interaction with City of London Brokers.

 

Representative Projects & Transactions 1990-1992:

●  Acquisition of Occidental North Sea assets (in cooperation with Elf - resulting in Elf Enterprise Petroleum) - financial    

analysis and evaluation

●  Sale of $100million Enterprise Oil North sea assets to C.Itoh - managed dataroom

●  Due diligence and valuation of Texas Eastern Petroleum Corporation for acquisition