INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS

Company limited by guarantee

Company Registration Number:
01832064 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

The International Association of Oil & Gas Producers (IOGP) is the global voice of our industry, pioneering excellence in safe, efficient and sustainable energy supply – an enabling partner for a low carbon future.



Directors

The directors shown below have held office during the whole of the period from
1 January 2023 to 31 December 2023

Giovanni Cristofoli
Graham Henley
Kimberly McHugh
Roberto Dall'Omo
Staale Endre Berg


The director shown below has held office during the whole of the period from
1 January 2023 to 31 December 2023

Troels Albrechtsen


The director shown below has held office during the period of
1 January 2023 to 30 November 2023

Mohamed Firouz Asnan


The directors shown below have held office during the period of
1 January 2023 to 10 May 2023

Khalid Al-Qahtani
Trond-Erik Johansen


The director shown below has held office during the period of
1 January 2023 to 11 February 2023

Carman Mullins


The directors shown below have held office during the period of
1 December 2023 to 31 December 2023

Bacho Bin Pilong
Celine Duheron


The director shown below has held office during the period of
1 November 2023 to 31 December 2023

Flaubert Machado


The director shown below has held office during the period of
1 September 2023 to 31 December 2023

Mark Wildon


The director shown below has held office during the period of
10 May 2023 to 31 December 2023

Helder Da Silva


The director shown below has held office during the period of
10 May 2023 to 31 October 2023

Daniel Harres


The director shown below has held office during the period of
8 February 2023 to 31 December 2023

Bryan Wesley


Secretary Graham Henley

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
8 May 2024

And signed on behalf of the board by:
Name: Kimberly McHugh
Status: Director

INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 7,941,430 6,144,280
Gross profit(or loss): 7,941,430 6,144,280
Administrative expenses: ( 7,499,453 ) ( 5,923,610 )
Other operating income: 265,111 272,733
Operating profit(or loss): 707,088 493,403
Interest receivable and similar income: 184,209 14,752
Interest payable and similar charges: ( 110,858 )
Profit(or loss) before tax: 891,297 397,297
Tax: ( 42,591 ) ( 2,803 )
Profit(or loss) for the financial year: 848,706 394,494

INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 59,500 91,289
Investments: 4 1 1
Total fixed assets: 59,501 91,290
Current assets
Debtors: 5 3,644,211 978,123
Cash at bank and in hand: 6,444,602 5,554,384
Investments: 6 1,654,705 1,680,179
Total current assets: 11,743,518 8,212,686
Creditors: amounts falling due within one year: 7 ( 4,113,194 ) ( 1,451,215 )
Net current assets (liabilities): 7,630,324 6,761,471
Total assets less current liabilities: 7,689,825 6,852,761
Creditors: amounts falling due after more than one year: 8 ( 745,455 ) ( 757,097 )
Total net assets (liabilities): 6,944,370 6,095,664
Members' funds
Profit and loss account: 6,944,370 6,095,664
Total members' funds: 6,944,370 6,095,664

The notes form part of these financial statements

INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 8 May 2024
and signed on behalf of the board by:

Name: Kimberly McHugh
Status: Director

The notes form part of these financial statements

INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 27 24

INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 314,518 107,946 422,464
Additions 17,474 17,474
Disposals ( 11,903 ) ( 11,903 )
Revaluations
Transfers
At 31 December 2023 314,518 113,517 428,035
Depreciation
At 1 January 2023 244,491 86,684 331,175
Charge for year 34,407 14,856 49,263
On disposals ( 11,903 ) ( 11,903 )
Other adjustments
At 31 December 2023 278,898 89,637 368,535
Net book value
At 31 December 2023 35,620 23,880 59,500
At 31 December 2022 70,027 21,262 91,289

INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Fixed assets investments note

IOGP London Ltd is a dormant company. IOGP Europe ASBL is a 100% subsidiary of IOGP London Ltd.

INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors

2023 2022
£ £
Trade debtors 2,784,210 327,607
Prepayments and accrued income 408,410 335,561
Other debtors 451,591 314,955
Total 3,644,211 978,123
Debtors due after more than one year: 1,654,705 1,680,179

INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Current assets investments note

IOGP London Ltd is a dormant company. IOGP Europe ASBL is a 100% subsidiary of IOGP London Ltd.

INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 261,320 443,285
Taxation and social security 252,094 253,000
Accruals and deferred income 3,570,380 738,285
Other creditors 29,400 16,645
Total 4,113,194 1,451,215

INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Amounts due under finance leases and hire purchase contracts 533,295 544,937
Other creditors 212,160 212,160
Total 745,455 757,097