Madjedi Hasan, a non-executive director of Madagascar Oil today resigned from the board citing “fundamental differences in opinion” with other board members.
Teck Soon Kong, has been appointed as an immediate replacement.
Ian Patrick, senior independent director, said: “I would like to welcome Teck Soon Kong to the board and look forward to working with him, and the other new board members, to drive forward the development of the company, building on the recent Declaration of Commerciality. I would also like to thank Madjedi Hasan, on behalf of the board, for his service as a non-Eeecutive director of the company during a period of significant change for the company.”
Mr Kong is an industry veteran.
The 73-year-old spent 31 years with Shell and served as an advisor in the Minister’s Office of Petroleum & Mineral Resources for Saudi Arabia previously.
Madagascar Oil focuses on the development of heavy oil and conventional oil and gas deposits in five onshore blocks in Madagascar.
The firm’s two principal fields, Tsimiroro and Bemolanga, are thought to have multi-billion barrel resources in place.
Recommended for you
