KPMG in the Oil & Gas Industry

KPMG in the Oil & Gas Industry Norway kpmg.no

KPMG in the Oil & Gas Industry 3 In the more than four decades since production began on the Norwegian continental shelf, the oil and gas sector has grown to impact more and more aspects of how we live and do business in this country. In Norway, as in most other oil producing regions of the world, KPMG has established a substantial group of specialists dedicated to enhancing the competitiveness of some of our nation s largest companies within this sector. Sustainable development, commodities pricing, risk management, capital investment, project management, and mergers and acquisitions are just some of the challenges that constantly test even the most integrated and established Oil & Gas companies. Succeeding in this industry requires agility, innovation, and focus. Our Stavanger office is one of 11 global Centres of Excellence within KPMG, especially equipped to offer financial, organizational and legal and tax advice on key issues businesses face today and in the years to come. Julie Berg Partner, Head of Oil & Gas Group Our industry knowledge Why we're leading As the oil and gas industry has matured, the complexity facing all segments within the sector has expanded dramatically. In their efforts to stay ahead of the curve on current issues, E&P majors, oil services and industry suppliers choose to work with KPMG both internationally and in Norway. Among the largest oil and gas corporations in Norway those listed in the annual «DN 500 biggest companies» KPMG clients together represent in excess of 2/3 of the industry s combined turnover. While market dominance can be measured in numerous ways, there is no escaping the fact that several of the largest organisations within the industry rely on the expertise of KPMG to maintain and improve their competitiveness. These companies choose us for the quality of our people, the depth of our knowledge and the value of our advice. Working with these companies among them some of the most demanding customers in Norway sharpens our own edge, driving us forward. This is an interesting time for this industry, which currently faces some of the greatest challenges since its inception. With our international, cross-disciplinary network of highly experienced professionals, KPMG is a natural partner for any company seeking to expand its reach within this industry. 13% 14% Auditors for Oil & Gas-companies in the DN500 list, by combined company sales: 72% KPMG Ernst & Young PWC Deloitte

4 KPMG in the Oil & Gas Industry KPMG in the Oil & Gas Industry 5 We develop practical recommendations that cut through complex business problems We deliver tailored business recommendations DEMANDING CUSTOMERS: Every day, we work closely with some of the largest and most complex businesses and organisations in the world, helping them maintain their competitive edge. BUILDING KNOWLEDGE: As we work together to add value to their business, we gain experience and new knowledge. UNIQUE BUSINESSES: All businesses are unique, facing their own set of challenges and issues that must be resolved, within or beyond the parameters of the organisation. CURRENT NEEDS: The solutions we propose are designed to fit the needs of your company in its current situation, and to preserve and enrich the very uniqueness that defines it. Our services to the industry AUDIT & ASSURANCE Auditing Services Joint Venture Audits IT Implementation Audit Costs Audits Sustainability Assurance COMPLIANCE & REPORTING US GAAP and IFRS Compliance Quality Close & Reporting Forensic Services Business Traveller Services Expatriates Accounting and Payroll Tax Compliance Services Software Asset Management TAX & LEGAL Corporate Tax Planning Petroleum Tax Services Transfer Pricing VAT & Customs Indirect Taxes Business restructurings & Tax Due Diligence Mergers & Acquisitions IP Rights Protection and Advice Contract & SPA Advisory Dispute Resolution BUSINESS DEVELOPMENT & IMPROVEMENT Business Development & Growth Strategy Sustainable Value Improvement Financial Management and Operations Risk Management Project and Program Management System Improvement, Selection & Implementation Information Protection & Security Technology Transformation and IT strategy Transaction Services & Due Diligence Mergers and Acquisitions Valuations Organizational Transformation ACROSS DISCIPLINES: Wherever necessary and possible, KPMG professionals from different fields of expertise collaborate to provide the best solution for our clients. INDUSTRY SERVICES: Unique as they are, businesses within any specific industry will face some common issues. Our sector experts know these, and how to solve them. GLOBAL REACH: Whatever your company is facing, somebody, somewhere in the KPMG system will have solved a similar problem before. BUSINESS KNOW-HOW: We find and apply the knowledge most relevant to solving your exact business challenge, regardless of where in the world that expertise may reside. We do so through a collaborative team approach We bring the entire KPMG network to the table

6 KPMG in the Oil & Gas Industry We monitor global issues of relevance to our clients and the industry Global industries need global partners How we share The Cyber Security Challenge Transforming risk management at energy and natural resources companies Oil and Gas in Africa 2014 Shale development: Global Update Of the over 150,000 skilled experts who work across the more than 150 countries in which KPMG is represented, some 16,000 are aligned to the Oil & Gas practice. These experts, drawing on the strengths of the entire KPMG network, share their experience across international boundaries within our organization. Regardless of differing cultures and business practices across markets, we always adhere to a common framework, following tried and tested standards. This global methodology means that whether you work with us in Stavanger or in Perth, our basic approach will be the same. Working as a whole, KPMG can solve all conceivable challenges and even a few inconceivable ones that face modern managers. But we do not only share information within our own organization. In printed and digital publications, as well as in the media, we voice our opinions and relay experiences gleaned from our interactions with industry players and stakeholders alike. You may even participate in some of these events yourself, since we arrange seminars and conferences in many corners of the world to address issues and challenges of particular relevance to that region. As we count some of the world s largest oil, gas and energy companies among our customers, these interactions are invariably fruitful and inspiring. We provide arenas for learning and discussion globally and nationally The KPMG Global Energy Institute Seminar Series: Doing Business in... Industry Forum App: Focus on Oil and Gas Monthly Tax Newsletter

Contact us OSLO : Julie Berg KPMG Law: Jan Samuelsen Sørkedalsveien 6 Postboks 7000 Majorstuen 0306 Oslo STAVANGER Martin Munro Verksgaten 1A 4013 Stavanger Postboks 57 4064 Stavanger BERGEN Knut Olav Karlsen Kanalveien 11 Postboks 4 Kristianborg 5822 Bergen KRISTIANSAND Nils Eivind Holst Markensgt. 30, 3. etg 4611 Kristiansand ÅLESUND Viggo Gundersen Daae Gården, Langelandsvegen 1 6010 Ålesund HAUGESUND Maria Oftedal Karmsundgata 72 5529 Haugesund The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. 2014, a Norwegian member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative («KPMG International»), a Swiss entity. All rights reserved. Printed in Norway.