1st Apr 2019 12:13
LONDON (Alliance News) - Russia-focused energy firm Zoltav Resources Inc has promoted its Deputy Chief Executive Tigran Tagvoryan to chief executive.
Tagvoryan joined Zoltav as deputy CEO in November last year. Before that, he worked at PJSC Rosneft Oil Co.
He will not be a member of the board, Zoltav said, as Tagvoryan takes over as CEO from the departing Eduard Sleyn.
Non-Executive Chair Lea Verny said: "We are pleased to appoint Tigran Tagvoryan as chief executive officer. He has deep and relevant experience to bring to Zoltav's current and future projects.
"Tagvoryan will work closely with the company's new geotechnical team towards realising the full potential of the Bortovoy licence, with a particular focus on the undeveloped eastern fields. He may additionally evaluate prospective new projects."
"The board thanks Sleyn for his efforts during his time with Zoltav and wishes him well in his next role," Verny continued.
"Over the past nine months, Zoltav has assembled a senior team that includes a number of highly accomplished former Bashneft and TNK-BP technical executives together with Tagvoryan as chief executive officer."
"I believe Zoltav has one of the most experienced geotechnical and business development teams in place of any junior oil company operating in the region. They are working towards a shared goal of value creation," she concluded.
Shares were 0.8% higher on Monday at 12.60 pence each.
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