Petrofac President Steps Down

UK-based oilfield services provider Petrofac reported Wednesday that its president, Maroun Semaan, has chosen to retire at the end of this year after 22 years with the company.

Semaan has held his current position with Petrofac since 2002. He has also served as chief executive of the group's engineering and construction business and as group chief operating officer.

Petrofac Group Chief Executive Ayman Asfari commented in a statement:

"Since we co-founded Petrofac International in 1991 the business has enjoyed tremendous growth, building our capabilities and expanding our geographic reach so that Petrofac now has one of the world's leading names in oilfield services.  Much of that growth is directly attributable to Maroun who, with his team, has continued to uphold the ethos of operational excellence, innovation and commitment to the values of the group."

Petrofac also announced that Kathleen Hogenson will be appointed to its board as a non-executive with effect from August. Hogenson was president and CEO of US-based firm Zone Energy and has 30 years' experience in the oil and gas industry.

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