Last checked at 4 Mar 2010 07:00
4 March 2010
Changes in Directors' Responsibilities
The Board of Petrofac Limited ("Petrofac" or "the company") today announces that, upon completion of the proposed demerger of Petrofac's UK Continental Shelf oil & gas assets to a new company, EnQuest PLC, Amjad Bseisu will step down from his role as Chief Executive of the Energy Developments business unit and as a Director of Petrofac and will become Chief Executive Officer of EnQuest PLC.
Following Mr Bseisu's departure, Ayman Asfari, Group Chief Executive of Petrofac, will, on an interim basis, oversee the Energy Developments and Productions Solutions business units, supported by Robert Jewkes, currently Managing Director, Energy Developments, and Gordon East, currently Managing Director, Production Solutions.
Ayman Asfari, Group Chief Executive of Petrofac, commented:
"On behalf of the Board, I would like to thank Amjad for his outstanding contribution to the development of Petrofac over the last 12 years. Amjad joined Petrofac in 1998 to found our co-investment business. During his tenure, he led the development of our portfolio of investments in upstream oil & gas assets and energy infrastructure in Algeria, Malaysia, Tunisia and the UKCS. I am delighted Amjad will have the opportunity to apply his skills and experience as the CEO of a production and development business. Amjad will leave Petrofac with our gratitude and we wish him every success in his new career."
Amjad Bseisu, Chief Executive of EnQuest, commented:
"I have thoroughly enjoyed being part of the development and success of Petrofac over the last 12 years and it has been a privilege to work with so many talented and entrepreneurial people. Making the decision to leave Petrofac was extremely difficult but I am very excited about the opportunities ahead for both companies as a result of this transaction."
Enquiries:
Tulchan Communications +44 (0)20 7353 4200
James BradleyDavid AllchurchAbout 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 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 11,500 employees, Petrofac operates out of five strategically located operational centres, in Aberdeen, Sharjah, Woking, Chennai and Mumbai 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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