Tullow Oil has confirmed the appointment of Richard Miller as Interim Chief Government Officer and Chief Monetary Officer, efficient February 14, 2025.
He takes over from Rahul Dhir who will step down from the Board on February 14, 2025.
Nevertheless, to make sure a easy transition, Mr. Dhir can be out there to the enterprise till his discover interval ends on June 5, 2025.
In an announcement to traders and the general public, the oil large mentioned the method of discovering a brand new everlasting Chief Government Officer is progressing effectively and the Board will present additional updates sooner or later.
Phuthuma Nhleko, Non-Government Chairman, commenting mentioned “As soon as once more, I want to thank Rahul for his exhausting work and dedication to Tullow and we want him each success sooner or later. He’ll ceaselessly be a buddy of Tullow. The appointment of Richard on an interim foundation permits Tullow to give attention to the supply of its near-term goals and impact a easy transition to a full-time CEO sooner or later.”
Additionally commenting, Rahul Dhir mentioned “It’s been a privilege to serve Tullow and work with so many gifted colleagues. With a robust pan-African platform and an enhancing stability sheet, Tullow is well-positioned as a trusted companion and accountable operator in Africa to ship the following part of progress.”
In the meantime, Tullow has introduced that it’ll resume drilling in Ghana’s oilfields in Might 2025.
In an announcement upfront of the Group’s 2024 Full Yr End result, the UK oil large mentioned a profitable decision of the Ghana Department Earnings Remittance Tax arbitration, removes $320 million contingent legal responsibility, and endorses the sanctity of its petroleum agreements.
The agency recorded income of $1.5 billion at a mean realised oil worth (pre-hedging) of $80.2 per barrel.
Its web debt decreased to $1.45 billion and gearing of 1.3 occasions.
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