Company name Kuwait Energy PLC
Headline Director Resignations & Appointment of Interim CFO


RNS Number : 6203X
Kuwait Energy PLC
27 November 2017
 

Company Announcement - Resignation of Directors and Appointment of Interim Chief Financial Officer

 

Kuwait City, Kuwait - 27 November 2017: Kuwait Energy plc (the "Company"), an independent oil and gas company, announced today the resignation of two of its independent non-executive directors, Dr. Yousef AlAwadi KBE and Mohamed Yusof Rafie. Furthermore, the company announced the appointment of Aurangzeb Bozdar as Interim Chief Financial Officer (CFO), with effect from 30 November 2017.

 

Executive Chairman, Dr Mansour Aboukhamseen expressed his gratitude for Dr Youself AlAwadi's and Mohamed Yusof Rafie's commitment to the Company and their contribution to the board of directors.

 

On the appointment of the Interim CFO, Aurangzeb has over 18 years in the Oil and Gas industry working in a variety of roles, including Group Financial Controller and Senior Finance Advisor at Premier Oil.  He left Premier Oil in 2016 to take up his role as Financial Controller at Kuwait Energy.

 

Aurangzeb has been working closely with the outgoing Chief Financial Officer, Roger Phillips, since January 2016 and in particular over the last few months of handover. Aurangzeb will be acting as the interim CFO, pending the appointment of a permanent candidate.

 

-ENDS-

 

Contact Details:

 

Hussain Al Mosawy

Tel: +965 2576 7722

Vice President - Strategic Corporate Affairs

E-mail: Hussain.Almosawy@kec.com.kw

 

Notes to Editors:

 

Kuwait Energy is an independent oil and gas company actively engaged in the exploration, appraisal, development and production of hydrocarbons across the MENA region. Since Kuwait Energy's establishment in 2005, the company has built up a diversified, majority operated asset portfolio. The company's current portfolio consists of ten oil and gas assets across Egypt, Iraq, Yemen and Oman of which it operates seven.

 

Kuwait Energy has a proven record of working in the MENA region and is recognised by governments, peers and local communities as a trusted and capable partner. Kuwait Energy's audited 2P working interest reserves as at year-end 2016 stand at 810 mmboe and average daily working interest production for the period YTD September 2017 stood at 26,962 boepd.

 

Kuwait Energy's registered office is located in Jersey, its head office is in Bahrain, its regional operational hub is in Kuwait and the company has area offices in Basra, Baghdad, Cairo and Sana'a.

 

For further information, please visit the Kuwait Energy website: www.kuwaitenergy.com

 

 

 

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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