Another oil and gas exec heads to security sector

  • Business & Finance

G4S, world’s largest security company by the number of employees, has once again reached into the oil and gas talent pool.

The company has named Tullow Oil’s chief financial officer Ian Springett a non-executive director of its board effective January 1, 2017. He will also be joining its Risk Committee and become chairman of the board’s Audit Committee.

G4S, based in UK, has experience providing security services to the oil and gas industry.

The newly appointed Springett has held the position of CFO in Tullow since 2008. Before joining Tullow, he worked at BP for 23 years where he held several senior positions, including vice-president of BP Finance and CFO for the United States.

John Connolly, G4S chairman, said: “Ian has a range of experiences and expertise which will be very valuable to our board, including extensive periods working in a number of countries around the world, significant involvement in a contracting environment and the necessary finance and accounting background to enable him to lead our Audit Committee.”

Among other projects, more than 800 G4S security personnel work at the Tengiz oil field on the north-eastern shore of the Caspian Sea as well as in the dangerous Niger Delta providing security support to Chevron Nigeria’s off and on-shore production platforms and pipelines.

For example, G4S has around 600 security guards and other personnel to provide protection to Chevron in Nigeria as well as high-speed patrol boats serving as escorts for offshore transfers.

As such, it comes as no surprise that a security firm like G4S would opt for people with oil and gas sector experience as their executives or board members.

To remind Tim Weller, former CFO of the oilfield services company Petrofac, traded in his role in the oil services company for the role of CFO at G4S back in October.

Weller was already a non-executive director of G4S at the time of his appointment as well as a member of G4S’ Audit Committee. He relinquished those two positions in the security firm after becoming the company’s CFO.

Offshore Energy Today Staff

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