The oil firm behind the giant Bentley North Sea project has named Andrew Fairclough as its new chief financial officer.
The 44-year-old originally joined the firm in August 2012 to act as its corporate affairs director.
But since joining, his role has seen him heavily involved in financial planning and development work at Xcite, leading to his new position.
“I am very pleased that Andrew has taken up the position of CFO,” said chief executive Rupert Cole.
“He has played an active role in the Company since joining us in 2012 and his appointment further strengthens the board at this important time.”
The firm, which agreed an $80million deal to refinance its unsecured loan notes at the New Year, posted a £900,000 profit last November as it continues to seek partners for the 250million barrel project East of Shetland.