Last checked at 19 Feb 2019 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 Marianne Daryabegui has been appointed as an Independent Non-Executive Director with effect from 15 March 2019. Marianne will serve as a member of the Remuneration Committee, Nominations Committee and, the Audit and Risk Committee.
Marianne is currently a Managing Director at Natixis, and was previously the Head of Natural Resources at BNP Paribas in Paris, France. She has extensive experience in oil and gas corporate transactions and capital markets and has advised oil majors, independent E&Ps and national oil companies. Prior to leading the Oil and Gas Corporate Finance Team in 2006, Marianne worked for eight years in BNP Paribas' Energy Commodities Export Project Department where she headed the Commodity Structure Finance team for the Middle East and Africa. Before joining the banking sector Marianne spent eight years at TOTAL. Marianne has a Master's degree in Finance and Capital Markets from Sciences Po University, Paris and a Masters in Tax and Corporate Law.
Marianne served as a member of the SOCO Board as a Non-Executive Director and as a member of the Audit, Remuneration and Nominations Committees for three years from October 2013 and stood down from her role due to other professional commitments. Marianne holds 36,757 SOCO International plc shares. The Company confirms that there are no additional matters requiring disclosure under Rule 9.6.13 of the Listing Rules.
Retirement of Non-Executive Director
SOCO also announces that Ambassador António Monteiro, Non-Executive Director and Chair of the Remuneration Committee will retire from the Board of SOCO at the conclusion of the Company's forthcoming AGM following ten years of service. Rob Gray, Deputy Chair, Non-Executive Director and senior Independent Director will be replacing the current Chair, Antonio Monteiro, in that role.
Rui de Sousa, Non-Executive Chairman, commented:
"António has been a valued member of the Board and highly-regarded colleague since he joined the Board of SOCO back in 2009. I thank him for his service to the Company and wish him all the very best in his retirement. I am delighted to welcome Marianne to the Board. Marianne brings a wealth of experience and expertise in oil and gas and corporate finance, and in the Middle East and North Africa region which will complement and enhance the skills and experience of the full Board."
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 production, development and exploration interests in Vietnam.
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 70% interest in and is designated operator of Blocks 125 & 126, located in the moderate to deep water Phu Khanh Basin, offshore central Vietnam.
Upon completion of the Merlon Acquisition, the SOCO Group will acquire a 100% working interest in the onshore El Fayum concession in the Western Desert, Egypt, around 80km south west of Cairo. The concession includes ten development leases for oil fields operated by Petrosilah, an Egyptian joint stock company to be held 50 / 50 between the SOCO Group and the Egyptian General Petroleum Corporation.