SYS-CON MEDIA Authors: Elizabeth White, Peter Silva, Liz McMillan, Yeshim Deniz, Pat Romanski

News Feed Item

Chris Finlayson named new InterOil Chairman

Former BG Group CEO and Shell executive to continue company transformation to a world-class explorer and producer

SINGAPORE and PORT MORESBY, Papua New Guinea, Aug. 10, 2014 /PRNewswire/ -- InterOil Corporation (NYSE: IOC) (POMSoX: IOC) has appointed former BG Group Chief Executive Officer and Shell executive Chris Finlayson as Chairman-designate.

Mr Finlayson, 58, joins the board immediately, and will replace Dr Gaylen Byker, after an appropriate handover.

InterOil is an independent oil and gas company operating in Papua New Guinea where it has discovered one of Asia's largest gas fields, Elk-Antelope, which it is developing as a liquefied natural gas project with Total of France and Oil Search Limited of Papua New Guinea.

The company also recently began Papua New Guinea's largest exploration and appraisal campaign across about 16,000sqkm of its licences that surround the Elk-Antelope discovery.

Mr Finlayson, who is a director of Lloyd's Register, is the former Chief Executive of FTSE 100 company BG Group and a former Executive Vice President and Managing Director with Royal Dutch Shell.

Extensive global experience

He has nearly 40 years' global experience and has led exploration and production ventures in Russia, Nigeria, Brunei, UK North Sea, Europe and Asia with BG Group and Shell, overseeing production of more than one million barrels of oil equivalent a day and directing several major capital projects.

Mr Finlayson has more than 15 years' senior level experience in the LNG industry, covering upstream development through to LNG shipping and marketing, and he has worked successfully with customers, joint venturers, national oil companies, and governments, particularly in major LNG-importing countries such as China, Japan and Korea.

Mr Finlayson, a geologist, physicist and petroleum engineer, said he was excited to join InterOil as it moved into development of Elk-Antelope.

"This is one of the most significant upstream LNG projects globally and I look forward to working with the board, management, shareholders, and the Government of Papua New Guinea to continue the transformation of InterOil into a major Asian energy player," he said.

Dr Byker, who announced at the company's annual meeting in June that he would retire after 17 years on the board, said Mr Finlayson was a perfect fit for InterOil's next phase of growth.

"Chris's global experience and network will be invaluable during this phase, which includes development of Elk-Antelope," Dr Byker said.

"His appointment continues InterOil's transformation to a world-class explorer and producer, particularly as we build our relationship with super-majors such as Total."

New leader in an exciting phase of growth

InterOil Chief Executive Dr Michael Hession said Mr Finlayson's appointment strengthened the board's capacity as it moved into project development and built on the pioneering work of directors such as Dr Byker.

"In the past year, we have signed a multi-billion-dollar LNG agreement with Total, streamlined our business to focus on exploration and development, strengthened our balance sheet, assembled a first-class senior management team, and begun a fully funded drilling program that is one of the biggest in Papua New Guinea's history," he said.

"Chris will assist us to build on these achievements and is ideal for guiding us through the next exciting phase of growth."

About InterOil Corporation
InterOil Corporation is an independent oil and gas business with a primary focus on Papua New Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licences covering about 16,000sqkm. The company employs more than 2000 staff and contractors. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.

Forward Looking Statements
This media release includes "forward-looking statements" as defined in United States federal and Canadian securities laws. All statements, other than statements of historical facts, included in this release that address activities, events or developments that InterOil expects, believes or anticipates will or may occur in the future are forward-looking statements, including in particular, the proposed LNG development with Total and references to InterOil's growth strategy. These statements are based on our current beliefs as well as assumptions made by, and information currently available to us. No assurances can be given however, that these events will occur. Actual results could differ, and the difference may be material and adverse to the company and its shareholders. Such statements are subject to several assumptions, risks and uncertainties, many of which are beyond the company's control, which may cause our actual results to differ materially from those implied or expressed by the forward-looking statements. Some of these factors include the risks discussed in the company's filings with the Securities and Exchange Commission and on SEDAR, including but not limited to those in the company's Annual Report for the year ended 31 December 2013 on Form 40-F and its Annual Information Form for the year ended 31 December 2013. In particular, there is no established market for natural gas or gas condensate in Papua New Guinea and no guarantee that gas or gas condensate from the Elk and Antelope fields will ultimately be able to be extracted and sold commercially. Investors are urged to consider closely the disclosure in the company's Form 40-F, available at www.interoil.com or from the SEC at www.sec.gov and its Annual Information Form available on SEDAR at www.sedar.com.

Investor contacts



Singapore


United States

Michael Lynn

Senior Vice President, Investor Relations

[email protected]

Phone: +65-6507-0222

David Wu

Vice President, Investor Relations

[email protected]

Phone: +65-6507-0222

Meg LaSalle

Investor Relations Coordinator

[email protected]

Phone: +1-281-292-1800




Media contacts



Singapore

Robert Millhouse

Vice President, Corporate Affairs

[email protected]

Phone: +65 8112 5694

Australia

John Hurst

Cannings Corporate Communications

[email protected]

Phone: +61 418 708 663


Hong Kong

James Hill, RLM Finsbury

[email protected]

Phone: +852 6286 5668

London

Dorothy Burwell, RLM Finsbury

[email protected]

Phone: + 44 207 7251 3801


SOURCE InterOil Corporation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Artifactory binary repository management system. As one of the most widely used binary repositories and the only repository that offers a high availability clustered solution, the integration with Artifactory helps customers easily adopt CA Release Automation to optimize their entire software development lifecycle. “Artifactory is a standard maker at the continuous-integration domain and provides the user a powerful repository experience with the freedom to choose his own tools set and ecosyste...
This talk focuses on the application of DevOps fundamentals to include network infrastructure. It draws from real deployment case studies on the extension of today's paradigms to address the challenges of the network infrastructures' ability to seamlessly and cohesively integrate into agile workflows. In this session at DevOps Summit, Arista Networks will focus on configuration management using automation with a nod to future work necessary to include telemetry and ephemeral state information....
Avnet, Inc. has announced that it ranked No. 4 on the InformationWeek Elite 100 – a list of the top business technology innovators in the U.S. Avnet was recognized for the development of an innovative cloud-based training system that serves as the foundation for Avnet Academy – the company’s education and training organization focused on technical training around top IT vendor technologies. The development of this system allowed Avnet to quickly expand its IT-related training capabilities around...
SYS-CON Events announced today that dcVAST, a leader in IT infrastructure management, support service and cloud service, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. dcVAST provides cutting-edge IT services and IT infrastructure management services. dcVAST builds robust systems that are simple, secure and serviceable. dcVAST’s IT infrastructure support and IT services expertise can help companies r...
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
While Docker continues to be the darling of startups, enterprises and IT innovators around the world, networking continues to be a real mess. Indeed, managing the interaction between Docker containers and networks has always been fraught with complications. Without automation in networking, the vision of running Docker at scale and letting IT run the same apps unchanged on the laptop and in the data center or for any cloud cannot be realized.
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
The OnPage SOAP API provides programmatic access to OnPage messaging services. Typical applications include sending messages to individual OnPage users or groups and receiving tracking information for messages such as delivery and read timestamps or reply information. The API is based on open standards known collectively as "Web Services," which includes the Simple Object Access Protocol (SOAP), Web Services Definition Language (WSDL), and the XML Schema Definition language (XSD).
SYS-CON Events announced today the DevOps Foundation Certification Course, being held June ?, 2015, in conjunction with DevOps Summit and 16th Cloud Expo at the Javits Center in New York City, NY. This sixteen (16) hour course provides an introduction to DevOps – the cultural and professional movement that stresses communication, collaboration, integration and automation in order to improve the flow of work between software developers and IT operations professionals. Improved workflows will res...
Docker is becoming very popular--we are seeing every major private and public cloud vendor racing to adopt it. It promises portability and interoperability, and is quickly becoming the currency of the Cloud. In his session at DevOps Summit, Bart Copeland, CEO of ActiveState, discussed why Docker is so important to the future of the cloud, but will also take a step back and show that Docker is actually only one piece of the puzzle. Copeland will outline the bigger picture of where Docker fits a...
A new definition of Big Data & the practical applications of the defined components & associated technical architecture models This presentation introduces a new definition of Big Data, along with the practical applications of the defined components and associated technical architecture models. In his session at Big Data Expo, Tony Shan will start with looking into the concept of Big Data and tracing back the first definition by Doug Laney, and then he will dive deep into the description of 3V...
Ayla Networks, whose agile Internet of Things (IoT) platform makes it easy for manufacturers to deliver secure, connected products, today announced it has been included in the list of "Cool Vendors" in the Internet of Things report by Gartner, Inc. “Gartner knows how important it is that manufacturers of all kinds of products have the right IoT solution to help turn their products into connected ‘things,’” said David Friedman, CEO and co-founder of Ayla Networks. “The market for Ayla’s IoT pla...
SYS-CON Events announced today that CenturyLink, Inc., a leader in the network services market, has been named “Platinum Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. CenturyLink is the third largest telecommunications company in the United States and is recognized as a leader in the network services market by technology industry analyst firms. The company is a global leader in cloud infrastructure and ...
ScriptRock has been included in the list of "Cool Vendors" in the "Cool Vendors in DevOps 2015" report by Gartner, Inc.* ScriptRock provides visibility into the configuration state of an organization's IT environments, enabling the continuous delivery of mission critical services. For enterprises where downtime is not an option, ScriptRock's system-wide overwatch offers the assurance that misconfigurations and anomalies are caught before they affect the business. By satisfying this fundamental ...
As cloud gives an opportunity to businesses to buy services externally – how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, provided answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He also discussed Intercloud and Cisco’s investment on it.