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  • Natural Resources

Energy & Natural Resources

The energy industry is filled with risks and risk takers. However, when it comes to your business advisors, you are not looking to take risks. You want a stable, trusted advisor to help you make informed business decisions and to help you manage your business and financial needs.

At BDO, our energy industry professionals have experience and knowledge working with clients in the upstream, midstream and downstream segments of the industry. Though a client service philosophy based on quality and responsiveness, we strive to build a lasting relationship with our clients based on trust, experience and respect.

On an almost daily basis international presscoverage brings to the attention of its readers the shortage of readily accessible oil and gas and highlights the future consequences of the peak oil theory. What they commonly do not refer to is the amount of activity companies, such as those clients of BDO International network, are undertaking in the sector oftenin difficult environments with geological, logistical, political and environmental challenges.

As an International Firm the reserves and resources our clients control and are seeking to exploit would no doubt come as a surprise to many. Not only do we work alongside clients whose operations are based in the more traditional oil and gas production nations such as the United States and the United Kingdom but we also work with many clients who are seeking to open up new frontiers such as the Falkland Islands, Sub-Saharan Africa and Iraq.

For our clients, wherever they operate in the world, it is important that they have the support of their advisers. Our clients know can always depend on us as we are proud to have the fifth largest international network of member firms after those of the Big 4. We can therefore match our clients’ needs for support in their country of operation to our global delivery.

No less important than our international coverage is our ability to guarantee the service delivery of our local offices. The BDO International network is based on commonly agreed principles of quality, methodology and service lines but delivered to our clients by partners and staff who understand their local market.

Our international Oil and gas teams are based in the key oil and gas producing and financing regions of the world - the United Kingdom, North America, Australia and CIS. These centres of excellence and our extensive international network allow us to service our International clients wherever their operations take them.

The BDO network is a living network and our oil and gas teams work together and meet regularly at the BDO Oil and Gas conference. The BDO team are proactive in developing real relationships across the International Firm - the network is not a loose umbrella of firms where every firm is different. The BDO network is one where the partners know each other personally and work with each other on a regular basis to service their client's needs. These strong relationships ensure the quality of our work internationally is also consistent - you can be sure that the service and advice you receive from our Paraguayan team will be of the same standard as that you receive from our US team.

Our local oil and gas experts have the network of contacts to provide you with the range of services you require whether assurance, corporate finance services, personal/corporate taxation advice or dispute resolution services. Whatever service you need, wherever your oil and gas operations are in the world they will know the person to help you.

Audit & Assurance 
Our international assurance practice provides clients with a robust external audit reporting services which utilises a consistent audit methodology throughout the world. Our local audit teams spend the majority of their time working on clients within the sector and therefore they understand your business and the issues you face. We provide ourselves on our service delivery and our client relationships.

Not only is our audit methodology and software used by all our international offices, our methodology has also been adapted specifically for clients operating in the natural resources sector. This ensures that our work is targeted to the high risk area of our clients businesses ensuring we do not over audit and incorrectly focus on immaterial, low risk financial statement areas.

But, if it is more than a statutory audit you require we can also provide specialist audit services covering PSC contracts, JV requirements or governmental fiscal regimes, International Financial Reporting Standards conversions, specific financial reporting assistance, technology risk reporting and internal audit service

Tax 
Companies operating in the oil and gas sectoroften have complex cross-border structures and employees who spend long periodsof time overseas. It is also becoming increasingly important for companies toensure that not only do they minimise their exposure to costly tax regimesthrough effective planning but they also ensure that they incentivise keyemployees in the most tax efficient way for them and the company.

A typical example of a project our tax teamsprovide advice on is international restructuring work where our clients' aimsare to minimise tax leakage and maximise available tax shelter. Regularly theseprojects seek to combine planning at a corporate level but also to ensure thattheir key management and employees are incentivised to drive the development ofthe entities assets. We recognise that taxation is a consequence of not adriver of business activity. Therefore we always ensure our advice iscommercially grounded.

Our Tax teams can therefore provide a wide rangeof specialist services to our clients from international tax planning tocompliance services to name but a few. Tax, in whatever its guise, hasinternational implications - our specialist teams are well placed to provideyou with cross-border, international advice wherever you are in the world.

Corporate Finance 
Our international Corporate Finance teams canprovide a wide range of specialist services ranging from flotations (LSE, TSX,NYSE, ASX and AIM), due diligence and professional advice in relation tomergers and acquisitions. We are also able to provide assistance to companieslooking to raise private equity finance. Our teams have worked with a diverserange of clients in the sector.

Our Corporate Finance teams work closely withour local and international business assurance and tax streams and with thebenefit of our partner led approach we ensure that our work is wellco-ordinated and that advice is cross disciplinary. When you seek advice fromus, you get the right advice from the right person first time.

Forensic 
BDO has a dedicated and highly experiencedinternational forensic accounting team who have the insight to help you tosolve the most challenging disputes and litigation. We have a wealth ofknowledge and technological expertise to provide you with the right advice tomeet your forensic accounting needs.

We have a strong track record of working withclients in the oil and gas sector, indeed the head of our UK team was a workinggeologist himself in the oil and gas sector at the beginning of his career. Ourteam's forensic accounting services include expert witness services, alternatedispute resolution, fraud and financial crime asset investigation and recovery,anti-money laundering provisions, technology forensics and valuations.

Our clients

Abraxas Petroleum Corporation
Bright Green Group
Bundy
Dril-Quip Inc
Econergy International Corporation
Edge Petroleum Corporation
Energie Rinnovabili
Enpower Srl
E.ON AG
Eurinvest Group
Florida Public Utilities Corporation
Gastar Exploration Ltd
Gazprom
Green Network
Intermare Sarda
Legacy Reserves
Moncada Energy Group Srl
Parallel Petroleum Corporation
PFIG Group
SNIE
Solar Power, Inc
Solarworld
SOL Group
Sputnik Engineering Italia S.r.l.
The Meridian Resource Corporation
Windpower