Africa’s oil and gas industry has the potential to be a source of much needed revenue for Scottish firms, a business gathering heard in Aberdeen yesterday.
Professional services firm Grant Thornton called on north-east firms to take advantage of the opportunities available.
Ian Knott, advisory director with Grant Thornton in Aberdeen, added: “Greater international collaboration could unlock new sources of revenue and provide much-needed growth at a time when many businesses are suffering from a lack of demand and significant pressure on costs in their existing markets.”
Mr Knott was speaking at the first Scotland Africa Oil and Gas Forum, held at Aberdeen Exhibition and Conference Centre.
The event brought together senior African and Scottish Government representatives and private sector figures to explore avenues for future investment and partnership.
Amaechi Nsofor, partner and head of Grant Thornton’s Africa advisory desk, said: “Africa’s oil and gas sector offers a wealth of opportunities for businesses that can provide the right skill sets and innovative technologies.
“Many potential entrants are dissuaded from doing business in Africa by perceived risks or difficulties that are often overexaggerated or can be mitigated by appropriate structuring and due diligence.”
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