Independent Oil & Gas welcomes Esa Ikaheimonen to its Board as Senior Independent Director

– UK, London –  Independent Oil and Gas plc (LON:IOG), the development and production company focused on becoming a substantial UK gas producer, today announced the appointment of Esa Ikaheimonen to the Board of IOG as Senior Independent Non-Executive Director, effective immediately.

Fiona MacAulay, Independent Non-Executive Chair, IOG commented: “We are extremely pleased to welcome Esa to the IOG Board of Directors. His financial expertise and substantial oil and gas industry experience will be invaluable to the Company as we execute the funding of our high-value gas hubs and achieve further growth in the coming years.”

Mr. Ikaheimonen’s appointment is the culmination of an external search process undertaken by an independent executive search agency on behalf of the Company.

About Esa Ikaheimonen

Esa has over 25 years of oil and gas industry experience and strong board level expertise. He is currently the CFO of London listed E&P company Genel Energy PLC and a Non-Executive Chairman of Lamor Corporation, a leading environmental service company. Mr. Ikaheimonen’s previous non-executive experience includes roles at Ahlstrom Corporation, global supplier of fibre-based products, and at Vantage Drilling International, a major offshore drilling contractor.

Previously, in addition to these non-executive roles, Esa was Executive Vice President and CFO of Transocean, the world’s largest offshore drilling company. Prior to Transocean, Esa enjoyed a 20 year career at Royal Dutch Shell, culminating in the role of Vice President Finance for Shell Africa E&P.

He holds a Masters Degree in Law from the University of Turku, specialising in tax law and tax planning.

As Senior Independent Non-Executive Director Mr. Ikaheimonen will chair the Company’s Audit Committee and serve on the Remuneration and Nominations committee.

About Independent Oil and Gas:

IOG owns substantial low risk, high value gas reserves in the UK Southern North Sea. The Company is targeting a 2P peak production rate of 146 MMCF/d (c. 25,000 Boe/d) from its substantial Core Project (2P gas Reserves of 302 BCF¹ + 2C gas Contingent Resources of 108 BCF²) via an efficient hub strategy. In addition to the independently verified 2P reserves at Blythe, Elgood, Southwark, Nailsworth and Elland and 2C Contingent Resources at Goddard, IOG also has independently verified best estimate unrisked prospective gas resources of 202 BCF²,³ in Harvey and Goddard. Alongside this IOG continues to pursue value accretive acquisitions to generate significant shareholder returns. All IOG’s licences and the Thames Pipeline are owned 100% and operated by IOG.

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