Tethys announced certain organizational changes within the Company.
The Company is pleased to announce the appointment of Mark Sarssam as Vice President Petroleum Development, based in the Company's new operations and technical office in Dubai, UAE. Marks appointment will strengthen the technical department at a time when there is an increased level of drilling activity in the Company, particularly with regard to the Company's exciting Doris oil development and related exploration and appraisal project in Kazakhstan. Mark will join the Company on April 17, 2011, and more details of Mark's experience and career to date are outlined below. Mark will be responsible for petroleum engineering, development and related activities aimed at achieving optimum production, reservoir evaluation and reserve definition of the Company's properties in Central Asia.
In addition Veronica Zhuvaghena, previously the Company's Manager, Corporate Communications, has been promoted to the position of Vice President Communications, based in the Company's London office and responsible for communicating the Company's message to external audiences and stakeholders.
The overall reporting structure of the Company has also been streamlined to cope with the increasing demands on the organization with the Company's increased activities in Central Asia. There are now three functional groups, namely Finance, Corporate and Technical/Commercial. Finance is headed by Chief Financial Officer and Finance Director Bernard Murphy, Corporate is headed by Liz Landles, Executive Director and now promoted to the position of Chief Administrative Officer, and Technical/Commercial is headed by Chief Commercial Officer Julian Hammond who was recently also promoted to the position of Deputy Chief Executive Officer.
Dr David Robson, Chairman, President and Chief Executive Officer of the Company commented, "We are delighted that Mark has joined the company and stress how very pleased we are to have such a professional, experienced and well-respected petroleum engineer joining us. The other internal organizational changes improve the efficiency of the Company as it moves forward with its increased levels of activities on its successful projects in Central Asia - particularly the Doris oil development and the ongoing exciting exploration and appraisal program in that area which will hopefully yield additional discoveries of oil and increase the Company's asset base. We are confident as to our operations in all of the areas in which we operate, with Tethys' unique blend of high potential exploration, development and production in the prolific Central Asian area. I also congratulate our existing staff on their promotions and new roles - which I am sure that they will excel in. We believe that Tethys is the fastest growing independent oil and gas company in Central Asia and with our great team I am confident that we will achieve our goal of adding real value to the Company and to our shareholders!"
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