Premier Oil Slims Down Board as 3 Members Leave

Reuters

LONDON, April 14 (Reuters) - Premier Oil said on Thursday that three board members would stand down over the coming months and not be replaced as the North Sea-focused oil producer slims its leadership and trims costs.

Falkland Islands and Southeast Asia Director Neil Hawkings will step down on June 30 but will continue working for Premier Oil as a consultant, the company said.

Non-executive directors David Bamford and Michel Romieu will leave following the firm's annual general meeting on May 11.

"It is incumbent on us, in the current commodity price environment, to consider the appropriate size of board membership," Chairman Mike Welton said in a statement.

Like other oil companies, Premier Oil has made substantial spending cuts to deal with a sharp decline in oil prices.

Hawkings has been a Premier Oil board member for 10 years and assumed responsibility for the Falklands portfolio in Jan. 2014.

(Reporting by Karolin Schaps; editing by Jason Neely)

Copyright 2016 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager
Expertise: Project Management
Location: Houston, TX
 
Receptionist
Expertise: Secretarial or Administrative
Location: Warrendale, PA
 
Human Resources Service Center Supervisor Job
Expertise: Customer Service|HR - General|HR - Trainer / Instructor
Location: Minneapolis, MN
 
search for more jobs

Brent Crude Oil : $53.89/BBL 1.67%
Light Crude Oil : $50.84/BBL 2.14%
Natural Gas : $3.7/MMBtu 2.77%
Updated in last 24 hours