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PetroNeft Promotes Non-Exec Director Sturt To Chief Executive

Thu, 10th Jan 2019 10:59

LONDON (Alliance News) - Oil and gas firm PetroNeft Resources PLC on Thursday said it has made Non-Executive Director David Sturt its new chief executive.

Sturt has been on the PetroNeft board since 2016, and will become CEO on March 25. At that point Interim CEO Karl Johnson will revert to his other role of vice-president of operations.

Sturt, PetroNeft said, has over 35 years' experience working in the upstream oil and gas industry across the firm,

He has previously held senior positions at Sweden's Petrosibir AB, Ukraine's Ukrnafta, and also worked previously at ConocoPhillips.

"I am delighted David has agreed to take up the position of CEO and am confident he can bring a successful conclusion to our efforts to realise increased value to shareholders," said Chairman David Golder.

Shares were untraded on Thursday, last quoted at 1.25 pence each.

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