Business Irish

Sunday 9 December 2018

PetroNeft's Francis retires as CEO

An engineer works on a Petroneft pipeline in Siberia
An engineer works on a Petroneft pipeline in Siberia
Ellie Donnelly

Ellie Donnelly

Dennis Francis, CEO and founder of Dublin-listed oil and gas explorer PetroNeft, has announced his retirement.

He will remain as a non-executive director in the company, and has agreed to assist PetroNeft on a consulting basis, to ensure a smooth transition for his replacement, and to assist in examining options to maximise shareholder value, including the potential disposal of Licences 61 and 67 in Siberia.

Mr Francis described his decision as "bittersweet," as he said much of his life over the last 14 years has been devoted to developing the company's assets in the Tomsk Region.

Irish Independent

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