EY Azerbaijan participated as a strategic partner in the 2nd SOCAR OGPC Forum.
Ksenia Babushkina, Partner and Head of the Central Asian Advisory Practice at EY Kazakhstan, gave a presentation on 6 November 2014 at the 2nd SOCAR OGPC Forum, which took place at the Fairmont Hotel.
The two-day Forum was an important networking event that engaged oil and gas leaders from the government and executives in the global energy, finance and investment communities, people who are actively involved in today's oil and gas markets.
Ksenia Babushkina delivered a presentation on "How Value Assurance Drives Successful Delivery of Oil & Gas Capital Projects" and focused on the Value Assurance system and on supporting tools, processes and resources which protect against increasing levels of risk and enhance project performance.
She stressed that a focus on objectives at each project stage and on their compliance with risk management controls helps in formulating remedial steps that directly impact the financial and reputational health of a business.
"Assurance provides an independent and objective view of project delivery. In implementing the right methods, Value Assurance gives confidence to a project and meets the delivery expectations of business stakeholders," said Ksenia.
The Forum also featured officers from State Oil Company of Azerbaijan Republic such as Rovnag Abdullayev, the President of SOCAR, Tofig Gahramanov, Vice-President for Strategic Development, Afghan Isayev, Advisor to the President and other government representatives. They emphasized the importance of boosting quality in the construction of oil and gas processing and petrochemical projects.
The 2nd SOCAR OGPC Forum provided an excellent opportunity for the regional and international oil and gas communities to share experience and knowledge of large-scale projects and processes.
EY's initiative in strategic partnership with the Forum is having a significant impact on oil and gas industry issues in the region by contributing to better solutions and by providing for the sharing of best practices and collaboration among both local and international organizations.
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EY in Azerbaijan
EY made a major commitment to Azerbaijan and the region with the opening of our office in Baku 20 years ago. Today, in addition to being the leading audit firm in Azerbaijan, we are the leading firm in the region. Because of our experience and depth of knowledge, we have been able to assist both domestic and international companies as well as state-owned entities in developing and in facing the challenges of the international economy.
2014 is the 20th anniversary of EY in Azerbaijan. We currently have more than 170 staff in our Baku practice, who serves our clients in Azerbaijan. EY's strength in the Caspian Region and the firm's commitment of resources are important to the entities operating in the region. It means that as we grow, EY will continue to demonstrate a tradition of hiring and training local professionals to be leaders in our practice.