Neptune Energy has announced that its VP operations for Europe, Pete Jones, will take on the role of CEO following the retirement of Jim House.
Mr Jones will succeed Mr House as CEO and join the company’s board on 1 January 2022.
Mr House leaves Neptune after four years, having played a formative role in building the business following its acquisition of ENGIE E&P, and overseeing significant improvements in safety, operational efficiency and reserves and resources, the company said.
Mr Jones joined Neptune in August 2018 as managing director for the UK, before taking up the role of VP operations for Europe, in October 2019.
He gained a degree in engineering operational research from the University of Birmingham and joined Marathon Oil, where he spent the first 16 years of his career working in various operational, technical, and functional roles across the UK and the US, before being appointed managing director of its UK business in 2009.
In 2013, Mr Jones was appointed managing director of Taqa UK, before being promoted to managing director of Taqa Europe two years later.
He also held the role of Honorary Professor at the University of Aberdeen Business School between 2017 and 2020.
© Neptune EnergyNeptune executive chairman Sam Laidlaw paid tribute to “the outstanding contribution” he said Mr House had made in building Neptune to its current position.
Mr House said: “I am immensely proud of what Neptune has achieved in the last four years. We have created an excellent team and a leading portfolio that has solid foundations upon which to deliver our ambitious growth plans.
“I am delighted to now hand the baton to Pete to drive Neptune even further forward as we meet the challenges of securing vital energy supplies through the energy transition”.
Commenting on his appointment, Mr Jones added: “Neptune was set up for the energy transition and I am excited by our pipeline of lower carbon developments that will see us play an increasingly important role.”
Neptune announced Thursday that it would pay an $800m (£605m) dividend to shareholders for 2021.
The statement said that the company continues to trade in line with guidance, expecting operating cash flow in excess of $2 billion for the full year.
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