Meeting the Demands of a Dynamic Market
At the KPMG Global Energy Conference held in Houston, diverse oil and gas industry related issues like energy security, future oil and gas supplies, reserve replacement, production growth, price fluctuation and credibility enhancement have been raised.
In response to these issues, we are promoting the following changes:
- Significant capital investment – this has played a vital role in driving the costs of finding and developing oil and gas and in opening up new exploration provinces
- Increased investment in countries with the greatest oil reserves for example the world’s oil major’s current interest in Russia, which is on track to regain its position as the number one oil producer
- Increasing focus on internal controls - including more transparent reporting -to comply with Sarbanes Oxley; a push for companies to work towards better corporate governance, and pressure for greater corporate social responsibility and improved communications with the capital market.
At Samjong KPMG, we help companies in the oil and gas sector through – improving internal controls, global due diligence and assurance, and through adding value to capital utilization and management of issues, that put long term viability at risk.