East African oil & gas company Wentworth Resources Limited, has recently announced that it is relocating its head office and executive management team from Calgary, Canada, to London, UK, as part of a ‘major restructuring process’.
The biggest will be the easier communication between the company’s corporate department (which will now be in London) and its shareholders in the East African region. Currently, the company has to contend with a significant time difference between Calgary and Mozambique, (around 9 hours), but as London is only 2 hours behind Mozambique, it is hoped that the move will increase efficiency and reduce costs.
However, Executive Chairman Bob McBean remains optimistic about the future of the company. He stated said “the business is in excellent shape to take advantage of the opportunity to deliver the next phase of growth, both in Tanzania and Mozambique and potentially beyond these jurisdictions.
Whilst there is no date scheduled for the move as of yet, Wentworth has said it will continue to provide updates on the progress of the restructuring process as things continue to develop.
London remains a supremely popular relocation destination for companies all over the world, despite Brexit. There has already been a surge in financial centres and tech companies relocating to the city and Wentworth Resources now adds the oil and gas sector to the list.
That said, I’ve been many times to Calgary on business – and indeed I’ve managed many corporate relocations from that great city to the UK – as well as from many other parts of Canada, a country I adore. Canadians are lovely people too.
Of course, persuading key employees to relocate to London can take some doing. In particular, you have to address the cost of living issue. It’s important, during the orientation meetings, to draw attention to the great lifestyle that London offers. Beyond that, it’s crucial to provide the right level of relocation support to make the experience a joy for those that are being moved.
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