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November 2019
1. What question or industry issue are you most looking forward to hearing about at the 11th World Energy Capital Assembly (WECA)?
- The main points that the industry needs to address
- How does our sector and business fit into the new energy transition and low carbon era; how will it affect management decisions, priorities and returns to our shareholders
- Changes in the optimum capital structure for E&P companies; are the traditional sources of funding still available
- Industry consolidation and reshaping of E&P map; regional champions or global sector specialists
2. In this challenging and selective investment climate, what is Energean’s strategy?
- Energean’s strategy has been to focus on its core competencies and competitive advantage. Regional focus in the Med, gas weighted portfolio of assets, combination of producing fields with new development projects and near field & infrastructure exploration
- Energean has also stayed committed to the ESG demands of the investment community where gas as a transition fuel will continue to be crucial in the global energy mix. All our projects are being screened and executed taking into account all the economic, social an environmental aspects of our business
3. What is Energean’s Outlook for the Oil & Gas Industry in 2020?
- We are very positive going into 2020 as our acquisition of Edison looks to be completed, creating one of the largest independent E&P companies on the London and the Tel Aviv Stock Exchanges. The group will also continue its progress on its Karish and Tanin project in Israel with first gas expected in 2021
- As a whole we believe the Oil & Gas industry will continue to provide excellent investment opportunities in 2020, but in an already risky and volatile business, only the players that can quickly adapt and address the new realities and pressures, of which ESG is a key part, will be able to succeed
Hear more from Panos Benos, speaking at the 2019 World Energy Capital Assembly on the panel “Innovation in the Financial Markets – Appetite for Debt Financing and New Ways of Deploying Finance”.
Panos Benos, Chief Financial Officer, Energean Oil & Gas
Mr. Panos Benos has extensive experience of working on international projects in the oil & gas sector, both in banking and industry, with a long track record of upstream financings in emerging markets. He joined Energean from Standard Chartered Bank, where he worked as a Director in their London Oil & Gas team to deliver a number of significant projects and acquisitions in Africa, Asia and Middle East. Mr. Benos previously worked for ConocoPhillips, where he held positions in European Treasury, North Sea Economics and International Downstream, with a focus on the North Sea, Central Europe and Middle East business. Mr. Benos began his career with Royal Bank of Scotland. He is a Chartered Accountant (ICAS) and holds an MSc in Shipping, Trade & Finance from Cass Business School.
