The oil and gas industry in Qatar has a great deal of potential, according to one expert.

Bill McDermott, president of global field operations and executive board member of SAP AG, explained why the firm has decided to invest in the country.

He said Qatar is a successful force in many sectors, primarily the oil and gas industry.

"We believe that [Qatar] holds enormous economic promise even in the immediate term, largely because of its increasingly important role in the global energy sector," Mr McDermott commented.

He explained SAP would provide IT solutions in order to maximise growth and create wealth. In this way technology holds the key to boosting its resources.

SAP provides business software products and services with the aim of accelerating business innovation.

It was founded in 1972 and is involved in developing companies in 50 countries across the globe.

Mr McDermott explained one of the strategies employed is to consolidate IT to cut costs and standardise software systems.

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