Northern Petroleum appoints ex-BP man and former Innovene CFO as finance director

Northern Petroleum (AIM: NOP) has appointed Nigel Wright to the board of directors as finance director to replace Chris Foss, who will now serve in the newly created role as Director of Legal & Corporate Affairs.

Foss, who has served as the company’s finance director since 2005, will now assist the managing director in the implementation and delivery of the corporate strategy plan and continue his role as company secretary. He is now expected to assist the company with expanding its initial production position in the Netherlands and increasing Northern’s corporate and operational activities on its large license position in Italy.

Wright started his career with oil and gas supermajor BP (LSE:BP), where he was involved in production and exploration projects before becoming chief financial officer of Innovene Europe, a US$16 billion business, and Global Cash Manager of BP Chemicals, which was worth US$23 billion. He has most recently worked as CFO of independent oil and gas exploration and production company Caithness Petroleum.

“I am delighted to welcome Nigel to the board. He joins us at a time of increasing activity as the Company builds upon the commissioning into production of the Grolloo and Geesbrug gas fields last year and now proceeds with plans to develop nine further oil and gas discoveries as well as expansion plans at Geesbrug,” said chairman Richard Latham.

Broker Astaire Securities noted the statement, saying these were important appointments ahead of production ramping up further onshore Netherlands, assing that Northern remains a solid E&P play.

http://www.proactiveinvestors.com.au/companies/news/6268/northern-petroleum-appoints-ex-bp-man-and-former-innovene-cfo-as-finance-director-6268.html