Africa Oil Corp.'s President and CEO Keith Hill has informed the Board of his intention to step down from his executive role at Africa Oil.
"Mr. Hill has led the Company for more than fourteen years and has presided over major milestones, including the Prime Oil & Gas acquisition and the Venus oil discovery offshore Namibia. Under Mr. Hill’s leadership, Africa Oil has grown from a junior explorer to a full-cycle upstream company, and he leaves it in a very strong position, poised for continued future growth," Africa Oil Corp. said.
Africa Oil Corp. said that Roger Tucker would join Africa Oil to succeed Hill as the new President and CEO.
"Dr. Tucker has a distinguished international oil and gas career with extensive experience of running and developing businesses in multiple and varied international environments. His career is characterized by significant value-creation in businesses ranging from independents, multi-nationals and state-owned companies. He was Senior Vice President Europe, for BG Group; CEO of African Arabian Petroleum Ltd., and Latitude Energy; Managing Director of Yukos Oil; and President LASMO Venezuela and a member of LASMO’s Group Executive Committee. More recently he was Chairman of Viaro Energy and has experience in private equity through Senior Partner-level positions at Prostar Capital and Vanwall Capital. He is currently a Non-Executive Director of PetroTal Corporation," Africa Oil Corp. said.
Hill has agreed to remain on the Board as a Director of the Company with Dr. Tucker also joining the Board as a Director. The handover will take place on September 5, 2023, and Hill will continue to lead the Company until that date.
Craig, Chairman of the Board commented: “Keith’s vision, industry expertise and astute deal making has created a leading Africa-focused E&P company. On behalf of the Board, I thank him for his years of hard work and his unwavering commitment to the Company. We are delighted to welcome Roger to Africa Oil and, we are confident that he is the right candidate to succeed Keith and to lead the Company on its next phase of development.”
Hill, Outgoing President and CEO said:: “It has been a privilege to lead Africa Oil on its journey from a microcap junior explorer to a significant Independent E&P company, but now, with our increasing focus on production and developments, it is the right time to hand over the reins to Roger. I thank our Board and the Africa Oil team for their professionalism and support over the past fourteen years. I am very pleased that we have attracted Roger, a high caliber executive with his extensive experience in the international energy sector. I wish him the very best for his new role.”
Tucker, Designate President and CEO said: “I am very happy to be joining Africa Oil, a company that has grown significantly in the last few years with an excellent opportunity set and material catalysts for shareholder value creation. I am grateful for the vote of confidence from the Africa Oil Board and this opportunity to lead the Company on its next phase of sustainable growth, with a firm focus on shareholder value and returns.”