Expert-witness testimony in economics & valuation
Oil & gas

Providing an expert witness in economics and valuation for an upstream oil & gas dispute in Kurdistan, Iraq


The client wanted to assess technological suitability and appropriateness in the highly technical subsea equipment and services sector.


  • We conducted the technical analysis of the exploration acreage, assessing how much oil and gas was in the ground and what volume could be produced. 
  • We analyzed the potential cost of developing the fields and modeled the production-sharing contract economics. 
  • We valued the fields using 3 methodologies: DCF; historical costs; and comparable transactions in the region.


  • Our expert witness wrote various reports, and gave testimony at the High Court in London. 
  • The judge ruled in our client’s favor, agreeing with our expert witness, that (in this case) market speculation did not always equate to value, that huge risks did not always provide equal reward, and operating in a high-political-risk region affected value. 
  • The judge dismissed all the claims against our client.