Independent Oil and Gas reorganizes board and management team
- Business & Finance
UK-based Independent Oil and Gas (IOG), a development and production focused oil and gas company, has made several board and senior management changes, effective March 20, 2017.
IOG said on Tuesday that Andrew Hockey joined the board as a deputy chief executive. Until the end of 2015, Hockey was the general manager of business development at Fairfield Energy which he helped found in 2005.
He led the company to acquire Clipper South as an undeveloped discovery from Shell and Esso and then subsequently managed its development via farm down and funding through to first gas in 2012. Hockey is now a non-executive director of Fairfield Energy and a founder of its parent company, Decom Energy Limited.
Also, former CEO of Bayfield Energy, and current senior executive at Burren Energy, Hywel John, joins the board as the chief financial officer.
Former Minister of State for Energy, Charles Hendry, is the company’s new non-executive director as a nominee of the company’s major stakeholder and investor, London Oil & Gas. After leaving his Ministry role, he was the president of the British Institute of Energy Economics and the chair of the Forewind Consortium.
Mark Routh, IOG’s CEO, has taken the role of chairman on an interim basis while Peter Young left the board to become the head of business origination. The final change is the appointment of Graham Cox, former project manager on the Clipper South development, as the company’s SNS Project Manager.
As far as resignations go, David Peattie resigned from the board with immediate effect due to his appointment as the chief executive of the Nuclear Decommissioning Authority.
Regarding the changes, Routh said: “We are delighted to announce the new additions to our board and senior management team as the company enters its next stage of growth.
“Andrew successfully led the development of Clipper South, a successful SNS producing gas field which we believe has certain similarities in discovery, geology, and production to IOG’s Vulcan satellites development. His operational and development execution capabilities will be of huge benefit to the company.
“Graham worked alongside Andrew at Clipper South, and we are excited to be welcoming him to the operational team.
“Hywel’s wide-ranging financial and commercial capabilities will be of considerable significance to the company as we continue to develop and grow.
“Charles joins the company at an exciting stage of our development and his deep knowledge and experience of the sector will be invaluable to the Board and management team.
“Peter’s move to Head of Business Origination is a natural progression given his track record leading the company’s M&A activity to date, and he remains committed as a member of the senior management team and a significant shareholder to the continued success of IOG.”