Afren has confirmed the appointment of Alan Linn, former CEO of Australia’s Roc Oil, as the new Chief Executive Officer and executive director of Afren. The company believes that Alan Linns 35 years of experience in the oil and gas industry makes him a perfect replacement for interim CEO Tony Hayward.
The new CEO from Afren state’s: “I am looking forward to working with the Afren team and its partners to deliver a lean and effective business with an oil production and development focus. The strong support shown by key stakeholders ensures we can now progress a number of important development projects in Nigeria which will contribute early production and revenue to the business and support our aim to be profitable in a lower oil environment”.
“There is a lot to do. However, the core assets and the quality of people and partners I’ve met give me the confidence to say that Afren has an attractive future and I am pleased to have the opportunity to contribute to this future success.”
Offshoreenergytoday.com note that Afren Plc will consider exiting the Kurdistan region in Iraq and focus on oilfields in Nigeria as it embarks on a restructuring programme. The company has struggled due to a series of problems over the past year, including the dismissal of founder and then CEO Osman Shahenshah and a dry oilfield in Iraqi Kurdistan. Linn inherits the difficult job of turning around the fortunes of the company, which has lost almost all its market value in less than a year and is burdened with about $1.30 billion in debt.
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