EnQuest PLC has appointed Martin Houston as Chairman of the Group with effect from 1 October 2019, replacing Jock Lennox who will step down from the Board on 30 September 2019. On joining the Board, Martin will also become Chair of the Nomination Committee.
Martin brings a wealth of board level industry and international business experience to EnQuest. He was previously chief operating officer and executive director at the global oil and gas company BG Group plc and a non-executive director of Severn Trent plc. He is currently co-founder and vice-chairman of Tellurian Inc. and a non-executive director of Bupa and CC Energy. In an advisory capacity, he is the global energy chairman of Moelis and Company.
The Board would like to thank Jock Lennox for his important contribution to the Company since its inception, and particularly for his Chairmanship since 2016.
EnQuest Chairman, Jock Lennox, said:
“I am delighted that Martin Houston has been appointed to the Board as my successor. His industry and board experience will be valuable as EnQuest enters its next phase of development. I have thoroughly enjoyed my time working with my colleagues on the EnQuest Board and much has been achieved, with EnQuest well placed to deliver on its strategy.”
EnQuest Chief Executive, Amjad Bseisu, said:
“On behalf of the Board and the management team, I would like to thank Jock for his important contribution to EnQuest during his tenure and our Senior Independent Director, Helmut Langanger for running a rigorous and successful succession process. I would like to also welcome Martin as our new Chairman for the next stage of our journey. With his extensive Board level and operational experience and deep industry knowledge, Martin will provide invaluable contributions to EnQuest that will help in executing our business strategy.”
Martin Houston said:
“I am delighted to be joining EnQuest at this exciting time in the Company’s development. EnQuest is a proven leader in owning and operating late-life assets and has significant remaining 2P reserves of 245 MMboe and a large number of low-cost, drillable targets within its 198 MMboe of 2C resources, particularly in its three major assets Kraken, Magnus and PM8/Seligi. I look forward to working with my Board colleagues and the management team as we implement EnQuest’s very clear strategy.”
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