Petroceltic announced the appointment of Dr. Robert Arnott as non-executive chairman of the Company, with immediate effect. Dr. Arnott joined the board in January of this year as senior non-executive director.
Dr. Arnott succeeds Andrew Bostock as chairman. Mr Bostock will continue to serve on the Board of the Company as a senior non-executive director.
Brian O'Cathain, Petroceltic's chief executive, paid tribute to Mr. Bostock stating: "Andy has contributed substantially to the growth of the Company both in his role as chairman and as a non-executive director. The Board is delighted that he will continue to contribute to the Company's development in the role of senior non-executive director. Dr Arnott's wide commercial, technical and market knowledge, and in particular his understanding of oil and gas in the Middle East and North Africa will be of significant benefit to the ongoing growth and development of the Company."
Dr. Arnott previously held the positions of chairman of DNO and head of the advisory board of DNO. He joined the industry as an exploration geologist with Shell International, following which he spent 10 years working as an oil sector investment analyst with a number of investment banks in the City of London. He is a geologist and energy economist with over 25 years experience of working in the oil industry.
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