9.7 C
Alba Iulia
Thursday, August 13, 2020

Significant Growth for AAB’s Upstream Oil & Gas Team

Subscribe to our newsletter

We will never spam , sell or share your details

Anderson Anderson & Brown LLP (AAB), one of the UK’s leading independent firms of Chartered Accountants & Business Advisors, has announced significant growth within its Upstream Oil & Gas team following a string of new contract wins in the sector during 2017.

These new contracts, with a cumulative value in excess of £1million have led to growth in the AAB’s Upstream Oil & Gas team which is now over 35 people strong. With these new clients on board, AAB now provides services globally to over 50 upstream clients in more than 25 countries.

Improving efficiency, achieving cost savings and recent changes in Operator ownership all lie at the heart of new client wins at AAB. As organisations continue to review their own cost models and constructively challenge their Partners on joint ventures, demand has been particularly high for joint venture and contract audit services.

Recent project examples demonstrate this. In their wholly owned John F Daly Associates joint venture audit business, AAB are seeing a growing trend in Partners challenging established cost allocation models as businesses experience significant upheaval. In the Consulting division AAB have been applying their Target Operating model to private equity backed operators to prepare businesses and position them for future divestment aspirations and options. In relation to this, the Accounting Services team have experienced increased demand for streamlining and integration of accounting systems across multiple country units, currently throughout Europe and Africa.

Ian McPherson, AAB’s Head of Upstream Oil & Gas Services, commented “whilst the negative effects of the Oil & Gas downturn continue to be evident, we are also experiencing the requirement for greater efficiency in managing and running all aspects of businesses. By applying a real focus on AAB’s E&P market strategy, and through responding to trends in business ownership with more private equity and fund backed investment, we have been very successful in growing our client base in this exciting and dynamic global sector.”

overcast clouds
15 ° C
15 °
15 °
93 %
90 %
17 °
14 °
15 °
14 °
15 °

Follow Us

Our Other Titles

Aberdeenshire communities in businesses cash boost for...

A NUMBER of Aberdeenshire communities have received a share of £1 million of grants to help town centres recover from the impact of coronavirus. Projects...

Energy consultancy launches major floating offshore wind...

GLOBAL energy consultancy Xodus Group has launched a three-year collaborative research project on the costs around floating offshore wind. The study, led by the Aberdeen-based...

Calls for Aberdeen hospitality sector to get...

BUSINESS leaders have called for Aberdeen’s hospitality sector to get financial help to get it “back on its feet”. First Minister Nicola Sturgeon told the...

MDL completes tailored North sea tie-back

BACKDECK equipment maker Maritime Developments Ltd (MDL) has completed a North Sea tie-back, which included delivery of a bespoke solution for handling reels of...

More Articles Like This