Board Change

RNS Number : 4454X

Petrofac Limited

13 January 2014

 



Press Release

13 January 2014

PETROFAC LIMITED

BOARD CHANGE

Petrofac, the international service provider to the oil and gas industry, today announced that Andy Inglis, Chief Executive of its Integrated Energy Services (IES) business, will be leaving the company at the end of February 2014 and stepping down from the Board.

Andy has been appointed Chairman and Chief Executive at US listed Kosmos Energy and will take up his new position in Dallas, Texas, upon departure from Petrofac.

Rob Jewkes, currently Managing Director of Developments for IES, will assume the role of Chief Operating Officer of the IES business, reporting directly to Group Chief Executive Ayman Asfari who will oversee the IES business. Rob has been with Petrofac since 2004 and has spent the last five years as Managing Director of Developments for IES, where he has played a central role in the development of the business. He has a strong engineering and project management background, and 35 years' experience in the oil and gas sector.

Petrofac Chairman Norman Murray said: "I would like to thank Andy for the considerable contribution he has made to Petrofac, and to the Board. We are sad to see Andy go but understand his reasons and the opportunity his new role affords him in that regard."

Group Chief Executive Ayman Asfari said: "Andy has made a significant and lasting impact on Petrofac's success. The growth of the IES business, which has seen a three-fold increase in net profit in just three years, is testament to his achievements and he leaves with our gratitude and best wishes for the future. IES is now a business of scale with a clear strategy to deliver operational excellence, commercial innovation and bespoke offerings to new and existing clients, and I look forward to working with Rob and the team to take the business forward."

Andy said: "I am very proud of what we have achieved with Integrated Energy Services over the past three years. I am excited by my new role and the professional and personal opportunities it brings, and I leave a strong and capable team to build on IES's current success and the substantial market opportunity."

Ends

For further information contact:

Petrofac                                                                           [phone]

Alison Flynn                                                                      

Head of Media Relations,                                                                      

[e-mail]

Petrofac Investor Relations                                                  [phone]

Jonathan Low

Jonathan Edwards

[e-mail]

Tulchan Communications Group LLP                                      [phone]

Stephen Malthouse

Martin Robinson

[e-mail]

Notes to Editors

Remuneration arrangements

The company hereby confirms that there will be no payment to Andy Inglis for loss of office, and that any outstanding unvested awards to him under the company's various share schemes will lapse.

Rob Jewkes biography

Rob joined Petrofac in 2004 to build a Europe-based engineering services business in Woking, UK, which now forms part of Petrofac's Engineering and Consulting Services business. In 2009, Rob was appointed Managing Director of Developments within the IES division has been responsible for leveraging our engineering and project management capability through Risk Service Contracts and equity investments to lead the development of our customers' upstream assets and energy infrastructure assets, with ongoing projects in Malaysia, Tunisia and the UKCS.

Rob has more than 35 years' experience in the oil and gas industry. Prior to joining Petrofac he served as chief executive officer of Clough Engineering, the main operating company of the Australian engineering group, Clough Ltd. Rob holds a degree in engineering from the University of Western Australia.

Petrofac

Petrofac is a leading international service provider to the oil and gas production and processing industry, with a diverse customer portfolio including many of the world's leading integrated, independent and national oil and gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC). 

Petrofac designs and builds oil and gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac's range of services meets its customers' needs across the full life cycle of oil and gas assets.

With more than 18,000 employees, Petrofac operates out of seven strategically located operational centres, in Aberdeen, Sharjah, Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a further 24 offices worldwide.

For additional information, please refer to the Petrofac website at www.petrofac.com.

 

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