Ernst & Young Baku Partner presented at the 12th Annual CIS Oil & Gas Summit in Paris
Baku, 16 May, 2012 ― On 14-16 May, 2012 the three-day conference brought together more than 45 speakers, 280 participants from 29 countries and many other influential leaders from various organizations who convened in Paris to discuss the major market trends, regional policies, strategic prospects and investment and development opportunities in a lucrative CIS oil and gas market. This event was organized by The Energy Exchange Ltd.
Turgay Teymurov, Ernst & Young's Partner, ECU leader for Azerbaijan, has spoken at the conference on the impact of evolving contractual relationships between the International Oil Companies (IOCs) and the National Oil Companies (NOCs), the raised challenges and mitigation techniques.
Turgay highlighted main features of traditional contractual models as well as new trends in relationship between IOCs and NOCs. "Today IOCs increasingly partner with NOCs. The increased risks and competition for resources are creating new challenges for IOCs and they become creative and enter into deals which they would not consider 5 years ago" says Turgay.
"The conference was very successful with great participation and engagement of oil majors and top government officials from the CIS countries" he added.
The summit became the flagship event in the Oil and Gas sector in the CIS, bringing major oil and gas companies together with key operators and suppliers. Ernst & Young is one of the sponsors of the event.
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