RAK Petroleum plc announces management changes

Press release

Published February 2nd, 2017 - 06:43 GMT

RAK Petroleum

RAK Petroleum plc, the Oslo-listed oil and gas investment company, announced the appointment of Ms. Shelley M. Watson as Chief Operating Officer effective today and as Chief Financial Officer effective 30 April 2017.

Ms. Watson has extensive experience in the oil and gas industry in the Middle East, most recently as the General Manager of the Company's predecessor, RAK Petroleum PCL, until the summer of 2014. She joined RAK Petroleum PCL as Group Commercial Director in 2007 and previously held commercial management roles with Novus Petroleum and Indago Petroleum. Ms. Watson holds a First Class Honours degree in chemical engineering and a Bachelor of Commerce degree from the University of Melbourne.

Mr. Bolurfrushan's resignation as Chief Financial Officer to pursue other opportunities will be effective 30 April 2017, but he will continue as an advisor to the Company.

"We are very grateful for Mr. Bolurfrushan's years of dedicated service and his invaluable assistance in growing the Company," said Bijan Mossavar-Rahmani, Executive Chairman. "Meanwhile, we are very pleased to welcome Ms. Watson to RAK Petroleum plc. Her extensive knowledge of our assets and years of experience in the industry will be invaluable to us as we move forward," he added.

Background Information

RAK Petroleum

RAK Petroleum plc is an Oslo Børs - listed oil and gas investment company established under the laws of England and Wales as a public limited company. It succeeded to substantially all the assets, liabilities and business of RAK Petroleum Public Company Limited (“RAK Petroleum PCL”), a Ras Al Khaimah Free Trade Zone company, in November 2014. Its principal holdings are 40.45 percent of DNO ASA and 33.33 percent of Foxtrot International LDC held through Mondoil Enterprises, LLC.