Norwegian oil firm Noreco is considering the proposal for a new appointment to its board after receiving a resignation notice from one of its directors.
The resignation of Daivd Gair, Abrdeen-based director independent of Noreco’s largest shareholders, will become effective on April 25 and the firm is currently discussing his replacement with the nomination committee.
The company did not reveal the reason for Gair’s resignation, who previously held executive exploration and production leadership and mergers and acquisitions delivery positions with BP and Royal Bank of Canada.
The news follows the announcement of Noreco’s March output results, as the North Sea explorer continues to struggle to overcome the disastrous effects of its 2013 production shutdowns.
The company recorded a full-year loss of £192.5million last year, having at one point stopped production from all of its UK, Norwegian and Danish North Sea fields simultaneously.
The firm’s total output for last month averaged at 8,615 barrels of oil equivalent per day (boepd) – slightly down on February at 8,692.
The Huntington field, which is a key asset to the company, was the main contributor to keeping the production levels high in March, with an average output of more than 26 000 boepd, despite a two-day maintenance work disruption, the company said in a statement.
The firm is looking to boost its production levels further in the summer when it hopes to restart the Dong Energy operated Siri platform, shut down in July last year due to a crack at the production facility.
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