Last checked at 22 May 2018 07:00
SOCO International plc
("SOCO" or the "Company" or, together with its subsidiaries, the "Group")
DIRECTORATE CHANGES
Appointment of Non-Executive Director
SOCO International plc is pleased to announce that John Martin has been appointed as an Independent Non-Executive Director with effect from conclusion of the Company's Annual General Meeting (AGM) on 7 June 2018. John will serve as a member of the Nominations Committee and the Remuneration Committee, and as the Chair of the Audit and Risk Committee, replacing the current Chair, Rob Gray, in that role.
John has more than 30 years' experience in international banking in the oil and gas industry and, until recently, was a Senior Managing Director in the Oil and Gas team at Standard Chartered Bank. Prior to joining Standard Chartered in 2007, John worked for ABN Amro for 26 years, specialising in the oil and gas sector. John has served as Senior Vice President of the World Petroleum Council, and as an Independent Non-Executive Director of Rockhopper Exploration plc. He was previously Chairman of Falkland Oil and Gas Limited, an Independent Non-Executive Director on the board of Bowleven plc and, an Independent Non-Executive Director and Chair of the Audit Committee of Total E&P UK Limited.
The Group confirms that there are no additional matters requiring disclosure under Rule 9.6.13 of the Listing Rules beyond the directorships set out in the preceding paragraph.
Retirement of Non-Executive Director
SOCO also announces that Olivier Barbaroux, Non-Executive Director, will retire from the Board of SOCO at the conclusion of the Company's forthcoming AGM. Accordingly, resolution 7 within the notice of the AGM, proposing the re-appointment of Olivier Barbaroux, will be withdrawn from consideration at the meeting.
Rui de Sousa, Non-Executive Chairman, commented:
"Olivier has been a director of SOCO during its formative years and I thank him for his long and distinguished service to the company and wish him every happiness in his retirement. I am delighted to welcome John Martin to the Board. John brings a wealth of experience and expertise that will be valuable in SOCO's next phase of growth."
ENQUIRIES:
SOCO International plc Tel: 020 7747 2000
Ed Story, President and Chief Executive Officer
Jann Brown, Managing Director and Chief Financial Officer
Mike Watts, Managing Director
Sharan Dhami, Group Investor Relations Manager
Camarco Tel: 020 3757 4980
Billy Clegg
Georgia Edmonds
Owen Roberts
NOTES TO EDITORS
SOCO is an international oil and gas exploration and production company, headquartered in London and traded on the London Stock Exchange. The Company has field development and production interests in Vietnam and exploration and appraisal interests in the Republic of Congo (Brazzaville) and Angola.
SOCO holds a 30.5% working interest in the Te Giac Trang Field of Block 16-1, which is operated by the Hoang Long Joint Operating Company. Block 16-1 is located in the shallow water Cuu Long Basin, offshore southern Vietnam.
SOCO holds a 25% working interest in the Ca Ngu Vang field of Block 9-2, which is operated by the Hoan Vu Joint Operating Company. Block 9-2 is located in the shallow water Cuu Long Basin, offshore southern Vietnam.
SOCO holds a 40.39% interest in and is designated operator of the Marine XI Block, located in the shallow water Lower Congo Basin offshore, offshore the Republic of Congo (Brazzaville).
SOCO holds a 22% interest in the Production Sharing Agreement for the Cabinda North Block onshore the Angolan enclave of Cabinda.