The Association of British Independent Oil Exploration Companies (BRINDEX) seeks to promote the role played by British independent exploration and production (E&P) companies in maintaining a powerful and effective UK based oil and gas industry. By increasing awareness of the independents' achievements in developing oil and gas reserves on the UK Continental Shelf (UKCS), and increasingly elsewhere in the world, we aim to demonstrate our vital contribution to both the industry and the local economy. Britain remains the only European country in which a substantial, independent E&P sector has been established.
Founded at the beginning of North Sea development in 1974, BRINDEX members now collectively hold interests in some 184 offshore and 22 onshore licences. These include interests in 43 producing oil fields and 30 producing gas fields as well as 13 oil and gas fields currently under development. Aggregate proven and probable UKCS reserves attributable to members at the end of 2003 amounted to 280 million barrels of oil and 1.1 trillion cubic feet of gas.
BRINDEX members have long been engaged in oil and gas activities overseas. Developments in the North Sea in recent years have added a wealth of modern technological know-how and expertise to the skill base of member companies who are increasingly using this knowledge to expand internationally. Currently, BRINDEX members are active in 30 countries worldwide.
The combined stock market capitalisation of quoted BRINDEX members stands at some £5.2 billion (US$9.6 billion). Worldwide proven plus probable reserves held by BRINDEX members at the end of 2003 were 626 million barrels of oil and 2.4 trillion cubic feet of gas.
Key Facts
• Involvement in 184 UKCS licences, 49 as operator
• Involvement in 22 UK onshore/seaward licences, 18 as operator
• Petroleum interests in 30 countries outside the United Kingdom
• International interests in 101 producing oil fields
• 14 producing gas fields
• 18 fields under development
Member Companies
Afren plc
Cairn Energy PLC
Caledonia Oil and Gas Ltd
Dana Petroleum plc
Fairfield Energy Ltd
Faroe Petroleum plc
JKX Oil & Gas plc
Paladin Resources plc
Premier Oil plc
Serica Energy plc
SOCO International plc
Star Energy Group plc
Tullow Oil UK Ltd
Tuscan Energy Ltd
Valiant Petroleum
Venture Production plc
The Role of BRINDEX
Independent oil and gas exploration companies are at the heart of the liberalised energy market which provides secure and diverse supplies at competitive prices. The independents will continue to play an important role in shaping a cost effective and imaginative approach to the exploration and development of the UK Continental Shelf and in securing the participation of the banking sector and the capital markets in its ongoing development.
From its inception, BRINDEX has significantly influenced the way in which the UK oil and gas industry has evolved. Key areas have included licensing policy and taxation.
Major oil companies were awarded the great majority of the highly prospective acreage on offer in the first four UK offshore Licensing Rounds. Subsequently, BRINDEX and its members lobbied to create an environment in which an independent oil and gas exploration sector could develop for the benefit of the country. We were successful in persuading successive UK governments of the vital role of the independent and, from the Fifth Round onwards, our success in terms of acreage awards rose dramatically. This resulted in a major deployment of British risk capital and debt finance and the new corporate vehicles for this funding went on to establish many joint-venture partnerships with major companies.
Whilst, in the main, the British independents were initially non-operators, the skill bases they built in operational, technical and commercial areas as well as in exploration, meant that a significant number have since become operators in their own right.
http://www.brindex.co.uk
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