Hurricane Energy has announced that Dr Robert Arnott is coming in as new group chairman after John Hogan, non-executive chairman, announced he would step down in March after a three-year term.
Arnott has extensive experience in the oil and gas industry and also has ten years of experience in investment banking.
Hurricane chief executive Dr Robert Trice said: “This is an extremely important time for the company as we continue to progress our ongoing discussions aimed at achieving first oil on Lancaster.
“I would like to thank John for his valuable contributions and advice over the last three years and wish him all the best for his future endeavours.”
The company has been working to plan field development at Lancaster – its flagship asset – and has sought an industry partner to support the project.
Lancaster is located in the West of Shetland area of the North Sea. The field was estimated, in 2010, to contain 200mln barrels of oil resources. The successful well testing in 2014 indicated production rates of around 20,000 barrels per day, per well are possible.
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