Marsh Conference to Address Globalisation and Natural Catastrophe Risks

Operating across international borders and ‘mega catastrophe’ risks rank among the greatest challenges facing National Oil Companies (NOCs) in 2012.

In order to guide NOCs through this dynamic risk landscape, Marsh, the world’s leading insurance broker and risk adviser, is dedicating its NOC conference, scheduled for February 2012, to the exploration of the opportunities and hazards associated with global expansion and natural catastrophes.

Jim Pierce, Chairman of Marsh’s Global Energy Practice, commented: “Many NOCs are now evolving into International Oil Companies, or IOCs, as they seize the opportunity for international expansion and develop cross-border operations. With these opportunities comes risk. Global governance is a growing concern, as are the nuances of local legislation in emerging territories.

“Mega catastrophe incidents, typified by the Macondo loss, have also resulted in a paradigm shift in the way natural catastrophe risk is perceived and managed in the global oil production industry. More emphasis is being placed on strategic risk management, which addresses issues such as supply chain limits of liability and pollution responsibility. Delegates to Marsh’s conference, the world's only risk advisory forum designed solely for the world’s NOCs, will learn how to de-risk their organisations to the greatest extent possible.”

Marsh’s annual NOC conference takes place under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai.

Speakers at the conference include: Peter Zaffino, President and CEO, Marsh; Mr R.S. Sharma, former ONGC Chairman; Mutlaq H. Almorished, Executive Vice President, Corporate Finance, Saudi Basic Industries Corporation; Natasha Tsukanova, Founder and  Managing Director, Xenon Capital Partners; Alyson Warhurst, CEO and Founder, Maplecroft; Arnaud Breuillac, SVP Middle East Exploration and Production, Total; JP Fowler, Chief Executive Officer, Global Corporate Zurich Insurance MEA; Hans Christian Olsen, Managing Director, Nunaoil; and Simon Williams, Divisional Head of Marine, Hiscox, and Chairman of the Rig Committee.