Neptune Energy names new CFO

Oil and gas company Neptune Energy has named Armand Lumens as Chief Financial Officer with effect from December 1, 2018.

Lumens was most recently Group Chief Financial Officer at Louis Dreyfus Company. Prior to that, he spent 20 years with Shell in various senior financial roles, among which he was a Chief Financial Officer of Shell Trading and Supply.

According to the oil company, Neptune’s current CFO Peter Thomas will assist with the transition and remain involved with the future development and growth of the company.

Sam Laidlaw, Executive Chairman of Neptune, said: “I’m delighted with that Armand is joining the Neptune management team. His deep knowledge and experience of energy and capital markets further strengthens the team for the next chapter of growth and demonstrates our ambition to be the leading international independent E&P company.

“I am enormously grateful to Peter for the formative role he played in the company’s creation and the fundamental role he continues to play in its development. Without him, we would not be the successful company we are today.”

Private equity-backed Neptune was formed by Laidlaw, a former Centrica manager, back in 2015 to target oil and gas acquisition opportunities. Late in September, Neptune completed the previously announced purchase of VNG’s Norwegian subsidiary VNG Norge for an undisclosed price. The deal was announced on June 28, and completed on Friday, September 28.

A month earlier, Neptune bought Apache’s 35% working interest in the Seagull development and a 50% working interest in the Isabella prospect; in the North Sea.

The biggest acquisition by Neptune was completed in February this year when Neptune said it had wrapped up the previously announced acquisition of Engie’s E&P business, in a transaction valued around €4.7 billion.

Offshore Energy Today Staff