Afren announced that Constantine Ogunbiyi is to step down as Executive Director with effect from the January 4, 2011, following his appointment as Chief Executive of First Hydrocarbon Nigeria ("FHN"). FHN is the indigenous Nigerian upstream oil and gas company in which Afren holds a 45% interest. The Boards of Afren and FHN have agreed that the position will be a secondment to FHN for an initial period of 18 months.
Egbert Imomoh, Chairman of Afren, commented, "We are very grateful for Mr. Ogunbiyi's significant contribution to the Board since his appointment in January 2008. We wish Mr. Ogunbiyi every success in this important role as Chief Executive of First Hydrocarbon Nigeria."
Chief (Dr) Oladele Fajemirokun, Director of FHN, commented, "The FHN board is delighted to welcome Constantine Ogunbiyi as Chief Executive. Mr. Ogunbiyi's significant Nigerian oil and gas experience will be invaluable to FHN's near term growth and development."
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