Africa Oil Corp (TSX:AOI) has announced that its president and CEO, Keith Hill will be stepping down from his executive role at Africa Oil and that he will be succeded by Dr Roger Tucker.
The company noted that Tucker brings with him a distinguished international oil and gas career, having run and developed businesses in various international environments. His experience spans independent companies, multinationals, and state-owned enterprises. Tucker's notable positions include senior vice president Europe at BG Group, CEO of African Arabian Petroleum Ltd and Latitude Energy, and managing director of Yukos Oil.
It said Hill, who has led the company for over 14 years, leaves behind a strong legacy, marked by significant milestones such as the Prime Oil & Gas acquisition and the Venus oil discovery offshore Namibia. Under Hill's leadership, Africa Oil has transformed from a junior explorer into a full-cycle upstream company.
Hill has agreed to remain on the board as a director, alongside Tucker who will also join the Africa Oil board. The official handover is scheduled for September 5, 2023, and until then, Hill will continue to lead the company.
In a statement, Hill commented: "It has been a privilege to lead Africa Oil on its journey from a microcap junior explorer to a significant independent E&P company, but now, with our increasing focus on production and developments, it is the right time to hand over the reins to Roger.
"I thank our board and the Africa Oil team for their professionalism and support over the past 14 years. I am very pleased that we have attracted Roger, a high caliber executive with his extensive experience in the international energy sector. I wish him the very best for his new role."
Dr Tucker added: "I am very happy to be joining Africa Oil, a company that has grown significantly in the last few years with an excellent opportunity set and material catalysts for shareholder value creation. I am grateful for the vote of confidence from the Africa Oil board and this opportunity to lead the company on its next phase of sustainable growth, with a firm focus on shareholder value and returns."
Africa Oil is a Canadian oil and gas company that currently holds producing and development assets in deepwater Nigeria and an exploration/appraisal portfolio in West and South Africa, as well as Guyana.
Contact the author at jon.hopkins@proactiveinvestors.com