3 November 2017
How did you come to be in the oil and gas industry? |
Exxon recruited geoscientists at my university and the opportunity to work at Exxon Research under Peter Vail in Seismic Stratigraphy was an offer not to be refused.
Where do you see the greatest opportunity in today’s global oil and gas markets and how are you positioned to capture this opportunity? |
US unconventional is re-drawing the energy map of the world. This is a core business for Noble but we also continue to invest in offshore conventional exploration and development. This offers the best opportunity for value creating from both worlds.
If you could wave a magic wand over our industry, what would you change and why? |
I would increase oil and gas prices but not tell anyone so that the focus innovation, discipline, cost reduction and improved efficiency continues. You said it was magic.
What are the strategic priorities for your company in the next 12 months? |
Improve cash margins on all our producing properties, maintain our financial strength and get Leviathan field development sanctioned. Position ourselves for significant growth over the next 5+ years.
What takeaways would you like attendees at World Oil & Gas Week to go home with regarding your company and your work? |
Noble is a financially strong diversified company that delivers value from unconventional oil and gas to deepwater major projects. We pride ourselves in being the partner of choice for the industry and always build strong relationships with host governments and regulators.
What is your proudest work-related achievement to date? |
Discovery of Tamar and Leviathan fields in Israel.
Name one interesting fact about you that no one would suspect? |
Offshore sailing (racing and cruising) is a passion.
What three items would you take with you to a desert island? (NB: you may not choose a boat, raft, satellite phone or a book on ‘Practical raft-building for Dummies’) |
First my wife and best friend of 43 years. Next a Swiss army knife (Leatherman is the modern version) and a role of duct tape. From these I can build anything.
About Jim Demarest
Jim Demarest is the Director of International Exploration for Noble Energy Inc. Based in the company’s Houston Headquarters, Jim is responsible for all exploration outside North America including ongoing and new venture activities. During Jim’s 30 years in the oil patch, he has worked for Exxon Research, Santa Fe Energy, Devon Energy, Petrochina and Burlington Resources with assignments living in Norway, Indonesia, Midland and Houston. During this career, Jim has focused on technical and business leadership in both exploitation and exploration activities touching every continent and in many different cultures. In 2000 Jim was General Vice Chairman of the AAPG/IPA international conference in Bali, Indonesia. He has a PhD and MS in Geology from the University of Delaware and a BS degree in Earth Science from Pennsylvania State University. He also holds a certificate in International Management and has served in leadership roles with a number of local civic organizations.
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