Nigeria-focused oil firm Sirius has named Olukayode Kuti as its new chief executive.
Kuti, who joined the company as a director five years ago, had been advising Sirius on its political and business strategy for west Africa.
“Bobo has been instrumental in both building Sirius Petroleum’s business base in Nigeria and securing the Company’s options to acquire oil and gas assets,” said Sirius chairman Jack Pryde.
Stephen Fletcher, former chief operating officer of Crosby Capital and of Nomura’s international markets arm, has been named as Sirius’ new finance director, while Ajay Kejriwal has joined the board as a director.
The new appointments come as Sirius announced a £1.8million share issue to provide additional working capital while it finalises development of targets in Nigeria.
“This is a very exciting stage in the development of the company and I am delighted that Steve and Ajay are joining the Board, bringing with them a wealth of relevant experience in the international oil and gas sector,” said Kuti.
Recommended for you
