A press report released by Tullow Oil Plc (Tullow), today, Monday, February 27, 2023 reveals that the company has appointed an independent non-executive director for the company.
According to the press report issued, Roald Goethe has been appointed as independent non-executive director of the organization. Goethe’s role as stipulated in the report is set to have commenced on Friday, February 24, 2023.
Roald is a highly experienced oil and gas executive with extensive commercial knowledge of the energy industry in Africa including business development, M&A, and in oil markets, specifically hedging, financing and trading.
In 1994, Goethe joined Trafigura Group as an executive, where he had an integral role in the development of the group’s oil trading activities, primarily in West Africa.
Moving on to 2006, the appointed independent non-executive director, founded his own company, Delaney Petroleum Ltd, which traded crude oil and petroleum products predominantly in West Africa and the Middle East.
Goethe, then, returned for a three-year term with Trafigura Group in Geneva and remained an advisor at the company until the end of 2021.
The records reveal Roald as a long-term supporter and shareholder of Tullow, holding c.22 million shares and familiar with Tullow’s strategy as well as aligned with the company’s commitments as a trusted partner to its host nations in Africa.
In May 2023, Roald will stand for re-election to the Board at its Annual General Meeting (AGM).
In receiving Mr. Roald Goethe, Phuthuma Nhleko, Chairman of Tullow Oil Plc, said:
“I am delighted to welcome Roald to the Board of Tullow. He has proven skills as a business builder in Africa, with valuable practical experience in country on matters such as financing, trading, and resolving complex commercial issues. He has an excellent understanding of Tullow’s business and vision, and he will provide a unique commercial and entrepreneurial perspective to Tullow’s Board, which will help us to pursue our long-term strategy.”
Nhleko
An Overview of Tullow Oil
Founded in 1985, Tullow Oil is an independent oil and gas exploration and production company with interests in over 30 exploration and production licenses across eight countries. The company’s production assets are in West Africa, with offshore production from Ghana, Gabon and Côte d’Ivoire.
Tullow has made material discoveries in East Africa and has been progressing its project in Northern Kenya towards development.
The exploration portfolio of Tullow spans both Africa and South Africa and is focused on a balance of near-field short-cycle opportunities, new plays in proven basins and selected frontier areas.
As part of the company’s objectives to provide something sustainable, finding, developing and producing the natural resources of the countries it is positioned, Tullow has been able to create more jobs, recruit and train more graduates on the job, develop the capacities of its workforce, create local business opportunities and encourage foreign direct investment through international supply chain.
More so, as part of Tullow’s commitments to sustainability, the company is very tax compliant.
“We recognize that paying our taxes in our countries of operation is an important commercial, legal and moral obligation. Tullow not only supports this obligation, but is transparent about what tax payments we make.”
Tullow
Constituting its investments and exploration strategies, Tullow recently signed a product sharing contract for offshore exploration license CI-803 in Côte d’Ivoire.
Commenting on this move taken by the organization, Rahul Dhir, Chief Executive Officer of Tullow said:
“This new license underscores our strong commitment to investing in and unlocking the resource potential in Côte d’Ivoire. Our exploration strategy is focused around existing production fields in basins where we have a differentiated understanding, in this case through our deep understanding of the Tano Basin.”
Dhir
