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i3 Energy appoints Majid Shafiq as chief executive

Shafiq has been a non-executive director since July 2017

Oil rig
Liberator is in the North Sea

North Sea-focused oil group i3 Energy PLC (LON:I3E) has reshuffled its senior management team with Majid Shafiq taking over as chief executive and founder Neil Carson moving to a non-executive role.

David Knox, i3’s chairman, played tribute to Carson’s role in establishing the company, adding that his great skill as a portfolio builder would be retained by the company in his non-executive capacity.

Knox added that Shafiq’s focus on delivery and his background in E&P investment banking would serve i3 well. Shafiq has been a non-executive director since July 2017.

The company’s main asset is the Greater Liberator area, discovered by i3 and that contains 11 million barrels of reserves and 22 million barrels of additional resources.

John Woods, the company’s chief development for the past two years has been promoted to chief operating officer.

Quick facts: i3 Energy PLC

Price: 36.25 GBX

AIM:I3E
Market: AIM
Market Cap: £33.87 m
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