Energy giants: IOC, NOC tie-ups mean better risk management
International oil companies (IOC) and national oil companies (NOC) need to contractually work more together to enhance energy risk management, say energy chiefs
Officials at Chevron, Eni and TNK-BP revealed at a conference today that one of the best ways of mitigating supply, commercial, credit, operational, exploration and political risk is by tying international oil companies and government-owned entities into future exploration and production contracts.
"Risk management is the number one concern for any energy company," says Jay Pryor, vice-president of business development at oil and gas company Chevron at the Oil and Money conference in London.
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