Ernst & Young UK oil & gas new appointments
Posted: 2 September 2003
Ernst & Young has appointed a Scottish based partner, Hywel
Ball, as the firm's National Head of Energy, Chemicals, and Utilities.
As the first Scottish-based partner to take on this UK-wide role,
Ball's
appointment signifies the increasing dominance of Scotland at the
heart
of the global oil & gas industry.
Previously an energy, chemicals and utilities (ECU) partner responsible
for clients such as BP and Cairn, Ball will now be responsible for
all firm ECU business, dividing his time between Aberdeen and London.
Working alongside Ball will be Neil Campbell, newly appointed Director
of
Corporate Finance. Promoted from Assistant Director position to
Director,
Campbell's Aberdeen-based role will focus on national opportunities
in the
oilfield services sector and private equity in the oil and gas market.
These appointments reinforce Ernst & Young's position as the
dominant global advisor in the oil and gas industry, where the firm
currently services over half the companies in the UK continental
shelf
and provides assurance and advisory services to the majority of
businesses listed in the oil service index.
Commenting on his new appointment, Hywel Ball said, 'The ECU industry
has been the major growth sector for Ernst & Young in the UK
and now constitutes over 10% of the firm's revenues, a figure which
is set to grow. I look forward to seeing the success we've experienced
in Scotland pushed out on a national level across the UK.'
Neil Campbell reinforced Ball's comments adding that, 'The activity
generated by the disposal of the North Sea assets by the major oil
and
gas companies is leading to increased deal activity in the UK, particularly
for the exploration and production companies. We are also seeing
an
increase in activity in oilfield service firms as they align their
businesses
with the new owners of the North Sea, alongside internationalising
their
businesses to seek out overseas opportunities.'
Ernst & Young's clients include Apache, BP, ConocoPhillips,
DNO, First Oil, Smith International, Total, Weatherford, Paladin,
Prosafe, Shell and Kerr McGee. Recent transactions include the Caledonia
oil and gas purchase of consort resources, the MBO of the PSL Group
and the MBO of RGIT Montrose.
For more information see www.ey.com/uk.
Posted by Richard Price,
Editor Pipeline Magazine
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