Neptune Appoints New Egypt MD
Neptune Energy announced Tuesday that Mohamed Mounes Shahat will join the company in December as its new Egypt Managing Director, based in Cairo.
Gamal Kassem, Neptune’s current Egypt Managing Director, will continue with the company until the end of the year, supporting Mounes’ transition into the role.
Mounes joins Neptune from Egypt’s Ministry of Petroleum, having most recently held the position of Minister’s Advisor for Gas Affairs. Mounes, who has almost 40 years of experience in the sector, began his career with the Gulf of Suez Petroleum Company in Egypt as a petroleum engineer. He has previously worked for companies including Khalda Petroleum Company, Egyptian Natural Gas Holding Company, Qarun Petroleum Company and Wastani Petroleum Company.
“We are very pleased to welcome Mounes to the company at an important time for the business,” Jim House, the chief executive officer of Neptune, said in a company statement. “He brings a wealth of experience to Neptune and a deep knowledge of the industry in Egypt,” he added.
“He joins Neptune as we progress our plans for the North West El Amal block, following the seismic acquisition earlier this year,” House went on to say. “He will also build on our strong relationship with the Ministry of Petroleum and Egyptian General Petroleum Corporation as we progress work on our concessions,” House continued.
Neptune Energy is an independent global exploration and production company with operations across the North Sea, North Africa and Asia Pacific. The business had production of 144,000 net barrels of oil equivalent per day in 2019 and 2P reserves of 633 million barrels of oil equivalent, as of December 31, 2019.
Founded in 2015 by the company’s executive chairman Sam Laidlaw, the company is backed by CIC and funds advised by Carlyle Group and CVC Capital Partners.
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