Rystad Energy move ‘a ringing endorsement’

Rystad Energy has announced plans to set up shop in Aberdeen as it forecasts a surge in activity for the UK North Sea.

The Norwegian consultancy, which has bases in oil hubs around the world such as Houston, Singapore and Stavanger, said the move is a “ringing endorsement” of the UK’s growth potential.

Rystad predicts activity in the UK sector to pick up over the next two years with the uptick in oil price.

The company aims to be in place at an Aberdeen premises by the end of the month. It will be led by Craig Jamieson, a senior manager at Rystad, who is originally from the city and has spent much of his career in Houston.

He said: “With the upturn in oil prices we are seeing that the UKCS is going to grow over the next couple of years.

“The office move comes with that, as well as Rystad’s own growth.

“2018 was Rystad’s biggest year to date. It makes sense to service this North Sea growth with a presence in town.

“We wouldn’t be putting an office here if we weren’t confident in the growth potential. That’s a ringing endorsement for the shortto-medium term growth in Aberdeen users.

“I left in 1999 and this is part of a homecoming for me as well.”

The consultancy, which provides research and analytics services to the industry, was founded in Norway in 2004 and already has an office in London.