Oil & Gas On target. Southern Africa

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1 Oil & Gas On target Southern Africa

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3 The Deloitte Southern Africa and global Oil and Gas practice will continuously tailor and improve our services to drive value for your oil and gas investments. Through our Tax, Consulting, Audit and Financial Advisory services, we provide Oil & Gas companies, including companies who service the industry, with comprehensive solutions to solve the most complex energy challenges. Oil & Gas On target 3

4 Content Introduction... 5 Challenges and opportunities... 6 Our response... 7 Services and solutions... 8 Our experience and dedicated leadership and talent

5 Introduction Over the past 24 months, the Oil & Gas industry has experienced the best macro environment influences in more than 20 years. Global demand for crude oil and natural gas is high, interest rates and cost inflation are low and hydrocarbon prices are at historic highs. Record levels of profitability and cash flows have resulted in large integrated oil companies and other related sectors seeing improved margins. New oil and gas finds off the coasts of Africa may accelerate investment in plants, pipelines and ships for production and transportation of oil and gas. Oil & Gas On target 5

6 Challenges and opportunities Oil & Gas companies are facing a multitude of challenges as well as opportunities, including: Robust growth in demand for crude oil, natural gas and petroleum products Competitive operating environment in all industry sectors Challenging regulatory, tax and legal environment Increased focus on corporate governance and risk management Continuing industry consolidation and asset portfolio rationalisation International expansion Workforce issues - attracting and retaining skilled people Growing international role of state-owned companies Conflict, unrest and political instability in several oil exporting countries 6

7 Our response 34 of the 56 largest Oil and Gas companies are Deloitte clients With more than Oil & Gas professionals worldwide, Deloitte s Oil & Gas practice provides Consulting, Taxation, Assurance, Financial Advisory and Risk Advisory services to companies in all segments of the Oil & Gas industry across the globe. Our Oil & Gas industry specialists help our clients develop solutions to capitalise on opportunities and manage the challenges. Oil & Gas On target 7

8 Services and solutions Consulting The Deloitte consulting practice is a leading global business consultancy with core strengths in Business Strategy, Operations, Technology and Human Capital Management. Our unique value offering lies in the way we integrate and cut across our range of services, making our Consulting business a true Category of One professional services provider. Our South African Consulting team has a particularly strong record in the South African Energy and Resources sector and we have served major clients in this sector in all facets of their business activities, including market research, formulation and implementation of growth strategies, optimisation of capital allocation and capital efficiency and optimisation of enterprise resource planning. 8

9 Taxation Our tax practice provides world class tax advisory and compliance support to our clients. We have provided tax services to various Oil & Gas clients in all segments of the industry. Our services cover the entire range of tax consulting and compliance services and include: Corporate tax consulting and compliance work Tax advice on farm -in / out agreements International tax, including Transfer pricing Individual tax consulting and compliance work Expatriate tax consulting (including administration of shadow payrolls and immigration services) Structuring advice on mergers and acquisitions Tax strategy and risk management Tax enabled ERP Managing tax advice across the continent of Africa VAT, Customs duties and Duty at Source Government grants and incentives Oil & Gas On target 9

10 Audit Within our global network of Deloitte member firms, we have robust audit tools, resources and procedures to provide the means for our professionals to deliver high-quality audit services. Our audit services range from required statutory audits to specialised audits. In the context of the Oil & Gas industry, our expertise includes specific experience in the following: Review of financial statements to ensure that they comply with the relevant accounting and disclosure requirement of IFRS for Oil & Gas companies. Review of Production Sharing Agreements with many African countries, including the accounting for costs both as an operator and non-operator of relevant blocks in these countries. Accounting and Financial Advisory Accounting and Financial Advisory offers a comprehensive solution to your business financial management and accounting challenges. The team comprises skilled accounting professionals with unique problem solving and project accounting skills. Our services include: Financial accounting reconciliation solutions Financial accounting and management support Project management of financial reconstruction and related projects Project accounting Financial budgetary and modeling 10

11 Risk Advisory We provide a comprehensive and differentiated range of value-added advisory and assurance services focused on assisting our clients to manage their risk. Our approach is to assist our clients to protect and grow their reputations - and to manage uncertainty from the boardroom through to the operations. These services include: Internal audit services: Advisory, co-sourced and outsourced Governance, regulatory and risk services Contract risk and compliance Sustainability and Climate Change services Technology risk and governance services Information security and privacy services Data analytics Preventative fraud and corruption services Fraud and cyber-forensics investigations Oil & Gas On target 11

12 Our experience and dedicated leadership and talent Anton Botes Oil & Gas Industry Leader - Southern Africa abotes@deloitte.co.za Anton is a senior director within the Deloitte practice and is the leader of the Oil & Gas industry in Southern Africa. He has a strong track record in strategy and operations consulting and has been focused on the Energy Industry (Power, Oil & Gas) since Anthea Scholtz Oil & Gas Tax Industry Leader - Southern Africa ascholtz@deloitte.co.za Anthea Scholtz is a chartered accountant and a partner in the Tax Division of Deloitte. She is the tax leader of the Oil & Gas Industry, in Southern Africa. Anthea provides tax advisory and tax compliance services to a number of multinational Oil & Gas companies and to various companies who service the industry. She has been with the firm for 18 years and specialises in corporate tax, personal tax and expatriate taxation. Lester Cotten Partner - Audit lcotten@deloitte.co.za Lester is a partner in the Audit Division of Deloitte. He fulfils the role of Professional Practice Director in the Western Cape office, which involves advising on a broad range of technical and risk management issues. He is the Oil & Gas industry specialist in the Cape Town Assurance division, with clients primarily in the upstream Oil & Gas sector who operate in Africa. He has been an audit partner for 28 years. 12

13 Munier Damon Partner - Risk Advisory mdamon@deloitte.co.za Munier is a director in our Risk Advisory Division. He specialises in governance consulting, risk management and internal auditing services. He brings with him a suite of risk and control related experiences from having served several clients in the Oil & Gas industry. Wendy Smith Director - Accounting and Financial Advisory wesmith@deloitte.co.za Wendy is a director in our Accounting and Financial Advisory, which focuses on finding comprehensive solutions to business financial management and accounting challenges. Wendy has worked in a number of industries and her specialist skills include the design, development and implementation of business processes and procedures, financial management strategy, business advisory support, and project management. Gerda Brand Director - Tax Namibia gbrand@deloitte.co.za Gerda is a Tax Director in the Deloitte Namibia office and has over 16 years Namibian tax experience. She specializes in all forms of taxation and consults to a portfolio of corporate, listed and medium sized clients, with specific focus on the mining, oil & gas, financial services, retail and manufacturing sectors. Oil & Gas On target 13

14 Bruno Cabral Oil & Gas Industry Leader - Angola bcabral@deloitte.co.pt Bruno Costa Cabral is the partner responsible for the Consulting Services group in the Energy & Resources industry both at Deloitte Portugal and Angola. Bruno studied Telecommunications and Digital Systems Engineering in Lisbon, and did postgraduate studies in Strategic Management at the Catholic University in Lisbon and a program in Leading Professional Service Firms at Harvard Business School. Bruno is 47 years old and has over 20 years of consulting experience mainly in strategy and operations. Presently he is responsible to lead and develop relations with the industry s major clients both in Portugal and Angola. Bill Page Oil & Gas Industry Leader - Mozambique bpage@deloitte.co.tz Bill Page is a partner in our East Africa firm where he oversees our Uganda and Tanzania tax practices. He is the leader of our energy and resources industry team in East Africa and also supports our teams in Kenya and Mozambique with his industry experience. Bill has practiced tax since 1986 and has wide international tax experience. Between 1986 and 1998 he worked in London; from 1998 to 2004 he was based in Kazakhstan working across the Caspian Region and from 2004 to 2008 he worked in Russia where he was responsible for the establishment of Deloitte s office in Sakhalin. He moved to East Africa in 2009 and is based in Dar es Salaam. 14

15 There is no substitute for accurate knowledge. Know yourself, know your business, know your men Lee Lacocca

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