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RESPECTED professional services firm Ernst & Young has highlighted Bahrain's strategic importance with the relocation of its global Centre of Excellence for Oil and Gas to the kingdom from the US oil heartland of Houston, Texas.
The firm's own staff and those of its clients from the industry will now be able to take courses, seminars and workshops in Bahrain which sits between the largest global oil reserves in Saudi Arabia and the greatest gas reserves in Qatar.
The centre officially opens today, though some staff have been in place for some time, and Tariq Sadiq, managing partner of Ernst & Young Bahrain, said: "Moving the centre to Bahrain demonstrates our commitment to growing our oil and gas expertise and resources in the Middle East and symbolises the importance of Middle East oil and gas to our global practice.
"From the global centre in Bahrain we will issue publications related to oil and gas, ensure our oil and gas practitioners have the appropriate training and tools to serve our clients and facilitate the sharing of knowledge and resources among our people and practices."
Ernst & Young has operated in the region since 1923 with 3,700 people in 13 Arab countries across the region.
Its hubs in London, Houston, which will continue operating, Perth, Moscow, Calgary, Sao Paulo, Kuwait, Al Khobar, Abu Dhabi, Doha and Libya already offer a network of energy professionals contributing to a global platform offering services to businesses in all sectors of the oil and gas industry.
A company statement said: "We chose to locate the centre in Bahrain because it is centrally placed to reach all our clients that operate in the region and is an attractive location in which to do business, with excellent international connections.
"We plan to invest into our oil and gas capabilities not just in Bahrain but across the region over the next five years as part of our ambitious growth plans - the firm already works with many of the regions fastest growing national oil companies including Saudi Aramco, Kuwait Petroleum Corporation and Abu Dhabi National Oil Company.
"In the last few months we have brought several oil and gas partners into our Bahrain office and they will be responsible for building up the reputation of the centre and working very closely with our clients in the region on acquisitions, business re-organisation, compliance and the internationalisation of their business models. This will also include the expansion of our advisory services practice."
