Aabar Petroleum Investments Company PJSC (“Aabar”) announces that Keith Gordon Cameron, formerly Chief Executive Officer of Aabar subsidiary PEARL Energy Limited (“Pearl”), has decided to resign from the company effective 31 July 2007 to pursue other interests.
Following a long and distinguished career in the upstream oil and gas industry in Southeast Asia and North America, Mr. Cameron played a central role in the inception of Singapore-based exploration and production company Pearl in 2000 and the company’s successful Initial Public Offering in 2005.
Subsequent to Aabar’s acquisition of Pearl in 2006, Mr. Cameron was appointed Special Advisor to Chief Executive David Woodward earlier this year.
CEO David Woodward said: “I have personally much appreciated the support and advice that Keith has provided me since I joined the company in February. I am very pleased that we will continue to have access to Keith’s considerable experience and capability as he has agreed to consult for Aabar on a part-time basis. We wish Keith and his family every success and happiness.”
Aabar announced in April a reorganisation of its key management team to unite its financial strength with Pearl’s upstream technical capabilities to provide a strengthened platform for growth in its core operational business and to position for expansion into new geographical areas.
Background
Aabar is an oil and gas exploration, production and drilling company headquartered in Abu Dhabi and is a public joint stock company listed on the Abu Dhabi Securities Market. Aabar has two divisions, Dalma Energy, which is focused on drilling operations, and Pearl Energy, which is engaged in exploration and production in Southeast Asia. Aabar’s net working interest production currently stands at 20,000 barrels of oil per day from four fields in Indonesia and Thailand. The group plans to drill 10-15 exploration wells in 2007.
