Will the Tax Increase on North Sea Projects Decimate the UK Oil and Gas Industry?

LONDON, April 18, 2011 - The tax increase imposed by the UK government has invoked wide spread
condemnation from the oil and gas industry with the threat of major North Sea
projects being halted.

SMi Group's Taxation in Oil and Gas conference will investigate the
effect that this increase could have on North Sea oil and gas ventures as the
tax implications are factored into exploration and production companies'
financial forecasts and the economics of these projects are reassessed.

Leading authorities on tax will provide expert insight and a forum for
thorough debate to guide the industry through the changing fiscal landscape.
Representatives from the in-house tax departments of Shell, BP and Premier
Oil as well as from the 'Big 4' auditing firms will provide specialist
insight into the issues affecting one of the largest contributors to the
economy's tax revenue.

Included within the speaker line up is Jim Hannon, founding partner of
Hannon Westwood Associates who are UK continental shelf (UKCS) intelligence
and business experts, who will investigate the impact and consequences the
new tax increases will have on the UKCS E&P projects. Hannon will also
investigate the challenges of net portfolio value, tax take, CAPEX and OPEX
and take a look at the assets likely to be drilled or dropped.

Taxation in Oil and Gas will also showcase case studies into the key
issues of profitable accounting, methods of evaluating the latest industry
trends and developments and examining what the future holds post-recession in
a changing fiscal landscape.

The conference will provide personnel responsible for tax management from
oil and gas companies with a detailed understanding of tax law, examine
recent changes and initiatives and what this means for oil and gas companies
working in the UK.

Taxation in Oil and Gas will take place on Monday 9th - Tuesday 10th May
2011 at the Crowne Plaza - The City Hotel in London.

Full information and the conference programme can be found at
www.smi-online.co.uk/2011oilgas-taxation33.asp

About SMi Group

SMi have been involved in the Energy sector for over a decade and present
an established portfolio of informative, industry focused events bringing
together senior industry professionals to help the energy industry make
informed decisions and remain at the cutting edge of business information.

    For further information contact:

    David Thomas
    Email: dthomas@smi-online.co.uk
    Telephone: +44(0)20-7827-6734

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