Last checked at 13 Oct 2021 07:00
Energean plc
("Energean" or the "Company")
Directorate Change
London, 13 October 2021 - Energean plc (LSE: ENOG, TASE: אנאג) is pleased to announce the appointment of Roy Franklin OBE as an Independent Non-Executive Director.
Mr Franklin will join Energean's Nomination and Governance Committee and its Environment, Sustainability and Social Responsibility Committees.
Karen Simon, Chairman, said:
"I am delighted to welcome Roy to the Board of Energean. Roy is a highly respected industry figure, whose extensive experience in CEO, NED and Chair roles will bring significant value to our boardroom discussions. His involvement in the energy transition space generally, as well as his experience with the Board of Energean Israel, also positions him well to support our strategic discussions. I look forward to working with Roy to deliver the Company's goals and am confident that his insights and experience will enhance Energean's future."
Roy Franklin OBE- summary CV
Mr. Franklin has over 45 years' experience as a senior executive in the oil and gas industry. Mr. Franklin began his career at BP where he spent 18 years latterly as Head of M&A at BP Exploration. After BP, Mr Franklin was Managing Director of Clyde Petroleum followed by being CEO of Paladin Resources until its acquisition by Talisman Energy in 2005.
Mr Franklin has extensive experience as a non-executive director including Amec Foster Wheeler plc (2016-2017), Keller Group plc (2007-2016), Equinor A/S (2015-2019), Premier Oil PLC (2017-2021), Santos Limited (2006-2017), and a member of the advisory Board of Kerogen Capital LLC (until 30 September 2021).
Mr Franklin holds a Bachelor of Science in Geology from the University of Southampton. In 2004 he was awarded an OBE in recognition of his services to the Oil & Gas industry.
He is also Chair of international energy services group, John Wood Group PLC, and a non-executive Director of Kosmos Energy.
No other information is required to be disclosed under Listing Rule 9.6.13.
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About Energean plc
Established in 2007, Energean is a London Premium Listed FTSE 250 and Tel Aviv 90 Listed E&P company with operations in nine countries across the Mediterranean and UK North Sea. Since IPO, Energean has grown to become the leading independent, gas-focused E&P company in the Eastern Mediterranean, with a strong production and development growth profile. The Company explores and invests in new ideas, concepts and solutions to produce and develop energy efficiently, at low cost and with a low carbon footprint.
Energean's production comes mainly from the Abu Qir field in Egypt and fields in Southern Europe. The company's flagship project is the 3.5 Tcf Karish, Karish North and Tanin development, offshore Israel, where it intends to use the newbuild fully-owned FPSO Energean Power, which will be the only FPSO in the Eastern Mediterranean, to produce first gas, commencing mid-2022. Energean has signed contracts for 7.2 Bcm/yr of gas sales on plateau into the Israeli domestic market, which have floor pricing, take-or-pay and/or exclusivity provisions that largely insulate the project's revenues against global commodity price fluctuations and underpin Energean's goal of paying a meaningful and sustainable dividend.
With a strong track record of growing reserves and resources, Energean is focused on maximising production from its large-scale gas-focused portfolio to deliver material free cash flow and maximise total shareholder return in a sustainable way. ESG and health and safety are paramount to Energean; it aims to run safe and reliable operations, whilst targeting carbon-neutrality across its operations by 2050. These aspirations were significantly advanced with the completion of the Edison E&P acquisition in December 2020, which has now been successfully integrated in Energean's business.