LONDON (Alliance News) - MX Oil PLC said on Wednesday that Nigel McKim will step down from as chief operating officer and from the company's board to take up an undisclosed new role, with effect on January 13.
The oil and gas company said its technical requirements will be covered by technical consultant Wim Burgers.
McKim has been COO at MX Oil for three years since 2016, and prior to that was chief operations officer at explorations and production company Nobel Upstream for a year from 2014 to 2015.
"I have very much enjoyed having Nigel as part of the team and wish him every success for the future. Going forward, our technical requirements will be more than ably covered by Wim Burgers. Also, given our focus on cost reduction, this change will enable us to trim costs further which is important at this stage of our development," said MX Chief Executive Officer Stefan Oliver.
Shares in MX Oil were up 23% at 0.074 pence on Wednesday following the announcement.