E&Y forms alliance to boost gas and oil work

E&Y forms alliance to boost gas and oil work

Ernst & Young is teaming up with two energy specialists in a bid to create an international one-stop-shop for oil and gas licences.

Diane Cook, partner at E&Y Energy Services, which audits 40% of the world’s top oil companies, said: ‘E&Y has known that people want packages, but we could only take the advice so far without the geological expertise.’

E&Y’s new alliance with Hannon Westwood Associates, which provides commercial advice on energy portfolios, and IKODA, a geo-science company, will target the renewed boom in North Sea investment.

Cook said the alliance would allow clients to ‘take the leg work out of buying packages of assets, consisting of interests in oil and gas fields or exploration acreage’.

E&Y will provide the due diligence, tax advice and corporate governance expertise in the alliance.

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