London – Gulf Keystone Petroleum Ltd (“Gulf Keystone” or “the Company”) (AIM: GKP) is delighted to announce the appointment of Simon Murray C.B.E., aged 73, to the Board of Gulf Keystone (the “Board”) as Independent Non-Executive Chairman and Senior Independent Director of the Company. Mr Murray will also be appointed Chairman of the Company’s Remuneration Committee at its next meeting.
This appointment represents a significant step forward for the Company as it expands and strengthens its Board in advance of seeking admission to the Official List of the London Stock Exchange later this year. Mr Murray will be taking up his appointment with immediate effect and will be attending the Company’s Annual General Meeting on 25 July 2013 in order to introduce himself to shareholders.
Simon Murray has a wealth of international business experience and a strong network of contacts, both globally and across the Far East, built up over the past four decades. His specific oil and gas experience includes his role as Vice Chairman and Non-Executive Director of FTSE 250 Essar Energy plc, an integrated energy company, where he is also Chairman of the Nomination and Governance Committee and his former roles as Chairman of FTSE 100 Glencore International Plc, where he oversaw the IPO of the company on the Main Market, and as an Advisory Board Member of the China National Offshore Oil Corporation. Simon was the long term Managing Director of Hutchinson Whampoa, a Fortune Global 500 Company, where he expanded Hutchinson Whampoa’s energy interests with the acquisition of one of Canada’s largest integrated energy companies, Husky Oil.
Mr Murray’s current roles include positions as Non-Executive Director of Cheung Kong Holdings Ltd, one of the largest listed companies on the Hong Kong Stock Exchange and Chairman of GEMS Limited. He is a former Non-Executive Director of Vodafone, another FTSE 100 company and previous Executive Chairman of Deutsche Bank Group for Asia Pacific. He is a Chevalier de la Légion d’honneur.
The Company is continuing the search process for at least one other Independent Non-Executive Director with the assistance of Odgers Berndtson, one of the UK’s pre-eminent executive search firms, and a further announcement on that process will be made in due course.
Commenting on the appointment Todd Kozel, Chief Executive Officer of Gulf Keystone, said: “I am delighted to welcome Simon to the Board.Simon’s wealth of international business experience, particularly his experience in listing and chairing a FTSE 100 company, will be invaluable in leading our migration from AIM to the Main Market as we transition into the next phase of the Company’s development and become a significant oil producer in the Kurdistan Region of Iraq.”
Simon’s appointment has been positively endorsed in discussions with the Ministry of Natural Resources of the Kurdistan Region of Iraq and the entire team are looking forward to working with Simon, as Gulf Keystone continues to build on its track record of success.”
Simon Murray, Non-Executive Chairman of Gulf Keystone, commented: “Todd and his team have done a great job building Gulf Keystone from a small exploration company into a multi-billion dollar company. The recent approval of the Shaikan Field Development Plan, one of currently only three in the region, is a testament to his strong relationships with key stakeholders in the Kurdistan Region of Iraq.”
As Gulf Keystone continues to expand and moves into the production phase at its world class Shaikan field, I look forward to being able to utilise my experience and expertise in assisting the Board with its strategic direction, especially in connection with the Company’s planned move onto the Main Market later this year.”
About Gulf Keystone Petroleum Ltd.
Gulf Keystone Petroleum Ltd. (AIM: GKP) is an independent oil and gas exploration and production company focused on exploration in the Kurdistan Region of Iraq.
Gulf Keystone Petroleum International (GKPI) holds Production Sharing Contracts for four exploration blocks in Kurdistan, including the Shaikan, Sheikh Adi, Ber Bahr and Akri-Bijeel blocks.
GKPI is the Operator of the Shaikan Block, which is a major commercial discovery, with a working interest of 75% and is partnered with Kalegran Ltd. (a 100% subsidiary of MOL Hungarian Oil and Gas plc.) and Texas Keystone Inc., which have working interests of 20% and 5% respectively. Texas Keystone Inc. holds its interest in trust for Gulf Keystone, pending transfer of its interest to the Company.
Gulf Keystone is moving into the large-scale phased development of the Shaikan field targeting 150,000 barrels of oil per day of production within three years, following the approval of the Shaikan Field Development Plan, announced on 26 June 2013.
Related articles
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.