11th Mar 2020 14:55
(Alliance News) - Victoria Oil & Gas PLC on Wednesday said it has hired Roy Kelly as chief executive effective from March 23.
Kelly will take over the leadership role from Ahmet Dik, who will remain with the company for 12 months to assist with the transition. Dik has worked for Victoria Oil and its Cameroon subsidiary Gaz du Cameroun SA since 2014.
Kelly is currently a director at oil & gas firm Hurricane Energy PLC and private equity fund Kerogen Capital UK Ltd. He has over 35 years of technical, commercial and managerial experience in the international energy industry, Victoria Oil said.
"Roy is a seasoned oil and gas professional and is well-known and respected in the industry and amongst investors in the sector. His experience in asset development, both upstream and downstream, and history and knowledge of African oil and gas projects, particularly in Cameroon, will be invaluable to our company, said Executive Chair Roger Kennedy.
"I wish to thank Ahmet for his many years of service. He implemented many changes including cost savings by outsourcing certain operations and negotiating the finalisation of long-standing debts. Over the past 10 months he has helped to resolve legacy issues and has assisted in the further development of the company's downstream strategy and operations," he added.
Kennedy will step down as executive chair to the role of non-executive chair in June.
Victoria Oil shares were trading 2.7% higher at 3.54 pence each on Wednesday afternoon in London.
By Ife Taiwo; [email protected]
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