Africa focused independent oil and gas firm, Tullow Oil Plc.has announced that its Chief Executive Officer, Rahul Dhir will step down and also resign from the Board during 2025 to pursue other business, academic and family interests.
A statement issued by the company said its board has initiated a process to find his successor.
Rahul will stay in his role until a date to be determined to ensure a smooth transition.
Phuthuma Nhleko, Non-Executive Chairman, said “I would like to thank Rahul for his hard work and dedication to Tullow. Since joining in 2020, Rahul has led a comprehensive turn-around and strategic reset of Tullow, focussed on the delivery of operational and financial performance, debt reduction and positioning the company for future growth.”
Rahul Dhir, Chief Executive Officer, said “It’s been a privilege to serve Tullow during these past four and a half years. During this period, we have achieved a step change in our operating performance, cost structure and capital discipline and delivered over $1.1 billion in free cash flow and reduced our net debt from $2.8 billion to c.$1.4 billion.”
He added “I am also very proud of our team’s strong culture of ownership and commitment to business delivery. With a strong pan-African platform, Tullow is well-positioned as a trusted partner and responsible operator to deliver the next phase of growth.”
Rahul Dhir was appointed as Chief Executive Officer and an Executive Director of Tullow in April 2020.
Source: https://energynewsafrica.com