Petrofac Appoints New Chairman

Petrofac, the international oil and gas facilities service provider, has appointed Rodney Chase as Chairman with immediate effect.

Mr. Chase (62) spent 38 years at BP plc of which 11 were served on the Board. He was Deputy Group Chief Executive on his retirement from the Group in May 2003 having held the position since 1999. He also spent time as CEO of the Exploration & Production and Marketing & Refining divisions.

Mr. Chase is the Deputy Chairman of Tesco plc and is also on the Board of Computer Sciences Corporation and Nalco Company in the US. He has previously held positions as a Board Member of BOC plc and Diageo plc.

Ayman Asfari, Chief Executive, Petrofac, said: "We have been seeking a high calibre Chairman since the retirement of Ralph Martin and we are delighted to announce the appointment of Rodney Chase. Rodney combines a depth and breadth of industry knowledge with many years working at the highest level within international blue chip companies. As the company develops and grows we will undoubtedly benefit from his leadership and experience."

Commenting on his new appointment, Rodney Chase said: "Petrofac is a dynamic and strategically well-positioned business - a real success story. The quality of its management team, the portfolio of businesses and its strategy for the future are driven by an entrepreneurial spirit that I find particularly exciting. This is a genuinely international business operating at the heart of one of the world's key strategic industries. I was delighted to accept the invitation to lead the Board and look forward to working closely with Ayman and his team."