Suroco Energy has announced the appointment of Juan Szabo as a director of the Corporation. Mr. Szabo's appointment is in conjunction
The Corporation also announces that it has accepted the resignation of Walter Dawson as a director of the Corporation. Mr. Dawson has resigned in order to focus on his other significant and growing business interests. The management and directors of the Corporation would like to express their sincere appreciation to him for his advice and counsel through the early and formative stages of the Corporation and wish him continued success in his other business ventures.
The Corporation's newly appointed director, Mr. Szabo, is a professional engineer with over 39 years of experience in the petroleum industry. A significant period of his career was spent with Petroleos de Venezuela S.A. ("PDVSA"), where he was responsible for the acquisition of most of PDVSA's downstream assets in the United States and the opening of the petroleum industry to private investment during the mid 1990's. Mr. Szabo also served as a member of the Board of Directors of Pequiven, PDVSA Oil and Gas, Citgo Petroleum and several other joint venture companies.
After taking early retirement from PDVSA in 2000, Mr. Szabo was appointed General Manager of Inepetrol, a Venezuelan exploration and production company which, during his tenure, became one of the most relevant Venezuelan oil and gas concerns with over 100 million barrels of reserves.
Since 2007, Mr. Szabo has served as an advisor to private and public companies such as Inepetrol, P.T. Energi Mega Persada Tbk (Indonesia), CANTV and Alentar Holdings Inc. (an affiliate of Activalores S.A., a Venezuelan Investment Bank), as well as for multilateral organizations such as the InterAmerican Development Bank (BID) and the Central Bank of Ecuador.
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