Petrofac Appoints Andy Inglis

RNS Number : 9147Y

Petrofac Limited

05 January 2011

 



Press Release

5 January 2011

PETROFAC LIMITED

PETROFAC APPOINTS ANDY INGLIS AS CHIEF EXECUTIVE OF ENERGY DEVELOPMENTS AND PRODUCTION SOLUTIONS

Petrofac, the international oil & gas facilities service provider, announces that Andy Inglis has joined the company as Chief Executive of its Energy Developments and Production Solutions businesses. Following a familiarisation period, he will join the Board of Petrofac in March and will re-locate to London on a permanent basis in April.

Andy Inglis (51) was previously Chief Executive of BP's Exploration & Production business and served on the board of BP plc between 2007 and 2010. 

Drawing on the extensive capabilities of the wider group, which include engineering, operations, training, well management and specialist petro-technical consulting businesses, Petrofac, through its Energy Developments and Production Solutions units, seeks to provide a fully integrated service for resource holders with flexible commercial models that are aligned to specific customer requirements. Projects cover upstream developments, both greenfield and brownfield, and related energy infrastructure investments, and can include the provision of capital.

Ayman Asfari, group chief executive, said: "I am delighted to welcome Andy to Petrofac. Andy is a proven business leader who has a strong technical background and 30 years of global industry experience, a number of which have been spent in Petrofac's core geographies in North Africa, the Middle East, the Caspian and Asia. He shares our vision as to how the provision of integrated services to resource holders can create significant growth for Petrofac. I look forward to working with Andy over the coming years to deliver on our ambitious strategy in this area and to create significant value for our customers and our shareholders."

Andy Inglis, chief executive of Energy Developments and Production Solutions, said: "I am excited to be joining Petrofac at this important stage in its development. Petrofac is leading a change in our industry and has identified a distinctive opportunity to provide a highly differentiated offering to resource holders. I look forward to being able to work with Ayman and the Petrofac team to fully capitalise on the significant opportunities we see in the market."

In addition to his position on the board of BP, Inglis was a non-executive director of BAE Systems plc from 2007 to 2010 and a director of TNK-BP Limited from 2008 to 2010.  In accordance with Listing Rule 9.6.15 it is confirmed that there are no further details to be disclosed pursuant to Listing Rule 9.6.13.

Ends

For enquiries contact:

Tulchan Communications                                                               [phone]

James Bradley

David Allchurch

[e-mail]

Notes to Editors

1.  Andy Inglis

Andy Inglis received an MA in Engineering from Pembroke College, Cambridge University. He is a Chartered Engineer, a Fellow of the Royal Academy of Engineering, and a Fellow of the Institution of Mechanical Engineers. 

He joined BP in 1980 as a mechanical engineer, working on various North Sea projects. In the late 1980s, he moved to a series of commercial roles in BP Exploration in Aberdeen and London. After a period in the upstream executive office, in 1994 he moved to Alaska to serve as the manager for the Kuparuk field before returning to London in 1996 as chief of staff for the upstream business. From 1997 until 1999, he was responsible for leading BP's activities in the deepwater Gulf of Mexico.

In January 1999, following the merger of BP and Amoco, he became vice president, US Western Gas business unit. In September 2000, he joined the upstream executive committee as a group vice president and was appointed executive vice president in 2004

with accountability for BP's upstream growth centres which included North and West Africa, Egypt, Middle East, Azerbaijan and Asia Pacific in addition to the US.

He was appointed chief executive of BP's Exploration & Production business and to the board of BP in 2007.

2.  Petrofac

Petrofac is a leading international provider of facilities solutions to the oil & gas production and processing industry, with a diverse customer portfolio including many of the world's leading integrated, independent and national oil & gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC) and is a constituent of the FTSE 100 Index.

The group delivers services through seven business units: Engineering & Construction, Engineering & Construction Ventures, Engineering Services, Offshore Engineering & Operations, Training Services, Production Solutions and Energy Developments.

Through these businesses Petrofac designs and builds oil & 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 & gas assets.

With more than 13,000 employees, Petrofac operates out of six strategically located operational centres, in Aberdeen, Sharjah, Woking, Chennai, Mumbai and Abu Dhabi and a further 19 offices worldwide. The predominant focus of Petrofac's business is on the UK Continental Shelf (UKCS), the Middle East and Africa, the Commonwealth of Independent States (CIS) and the Asia Pacific region.

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

 

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