After ‘thorough search process,’ Jadestone brings its new CFO from SBM Offshore

AIM-listed and Singapore-headquartered oil and gas player Jadestone Energy has revealed the name of its new Chief Financial Officer (CFO), who is expected to join the company in a couple of months.

Following the resignation of its previous CFO, Dan Young, who recently joined Cooper Energy, the firm started a search for his replacement in December 2021.

In an update on Tuesday, Jadestone Energy announced the appointment of Bert-Jaap Dijkstra as its new CFO and director, effective from 1 September 2022.

Paul Blakeley, President and CEO of Jadestone, remarked: “We’re delighted to welcome Bert-Jaap to the Jadestone team as CFO following a thorough search process.  He brings deep and relevant experience of capital markets and the upstream sector, and his impressive track record of executing significant financing solutions in the oil and gas industry will be invaluable to Jadestone as we seek further accretive growth in the Asia-Pacific region.”

Dijkstra, a chartered management accountant – who holds an MSc degree from Wageningen University and an MBA in Financial Management from MIT Sloan School of Management –  joins Jadestone from SBM Offshore, where he held a number of finance and management roles since 2013.

According to Jadestone, Dijkstra recently served as Group Treasurer and Director of Investor Relations and has been directly responsible for managing all financing activities for SBM Offshore, including structuring around $5 billion in recent project financings, managing the group’s financial risk (including hedging programmes), optimisation of funding sources and corporate finance.  

Prior to starting at SBM Offshore, Dijkstra held various finance roles in European commercial real estate and also Shell, where he worked for a period as Finance and Planning Manager in Southeast Asia.

To comply with Jadestone’s strategy of ensuring that senior management members are positioned close to its assets and finance teams in the Asia-Pacific region, Dijkstra will relocate with his family to Singapore.

“Bert-Jaap has already impressed us with his hands-on attitude and his passion for our business.  These are the Jadestone qualities we are looking for and, with his open communication style, he will fit well within the leadership team. I look forward to having him on board in September 2022,” added Blakeley.

When it comes to Jadestone’s recent developments and activities, it is worth noting that during the transfer of crude oil between two crude oil tanks onboard the FPSO Montara Venture at the company’s Montara field off Australia, oil was observed on the surface of the sea adjacent to the FPSO on Friday, 17 June 2022.

Due to this incident, the firm advised that transfer operations had ceased immediately and production from the Montara fields was shut in as a precautionary measure. Jadestone estimated the cost of securing the leak site and permanent repair of the crude oil tank at $2-3 million.