Management Appointments (Afren)
RNS Number : 0902Y
Afren PLC
01 July 2008
Afren plc (AIM: AFR)
New Management Appointments
London, 2 July 2008 - Afren plc ("Afren" or the "Company") announces the addition of
an international technical team from Randall & Dewey and new management appointments.
The Board of Afren Plc is pleased to announce the appointment of an experienced 12 person
technical team of Geologists, Geophysicists,
Reservoir Engineers and Petroleum Engineers. The team, led by Shahid Ullah, previously constituted Randall & Dewey*s international technical team and brings portfolio management and technical skills that will be highly complementary to Afren, in particular with a view to executing the pipeline of future development opportunities.
Recent achievements for the team in Africa include:
* Technical partner with Vaalco on the Etame Marine discovery in Gabon;
* Discovered and developed the Abana Field on OML 114 in Nigeria;
* Found over 1 TCF gas at Cross River on OML 114 in Nigeria;
* Early technical work to define the Okoro field opportunity in Nigeria;
* Developed the plan for a heavy oil field in Madagascar utilising steam injection,
raised the necessary financing for the project
and responsible for project execution; and
* Produced an innovative development plan and economic model for Ivanhoe Energy for
the Niger Agadem block.
The Board is pleased to announce that Shahid Ullah has been appointed as an Executive
Director of Afren to head up the Company's
technical operations. Mr Ullah's career includes senior management positions at Western Atlas
and Baker Hughes, where he was responsible for
managing petroleum equities and assets and in particular brings extensive technical and
commercial knowledge of the African petroleum
industry. Mr Ullah holds a degree in Petroleum Engineering from the University of Texas and
received executive development training at
Oxford University and the London Business School. He is a member of the Engineering Advisory
Board at the University of Texas.
The Board of Afren has accepted the resignation of Evert Jan Sibinga Mulder as Chief
Operating Officer. Mr Sibinga Mulder had
previously indicated that he wanted to return to Holland after many years overseas. His input
and industry experience were significant in
terms of structuring the Company's technical team and work processes and also in relation to
the recent First Oil achievement.
Osman Shahenshah, Chief Executive of Afren, commented: "I would like to thank Evert Jan
for his contributions during the Company's early
stages and also for the important First Oil milestone where he played a leading role. The
Board wishes him every success in the future. The
addition of Randall & Dewey's international technical team and appointment of Shahid Ullah as
Executive Director strengthens the existing
technical base, bringing enhanced capacity, in particular with a view to the near term
development opportunities we see in the new venture
pipeline."
