Sunday 15 December 2019

United Oil & Gas appoint Graham Martin as chairman

Photo: PA Wire/PA Images
Photo: PA Wire/PA Images
Ellie Donnelly

Ellie Donnelly

London-listed United Oil & Gas has announced the appointment of Graham Martin as chairman with immediate effect.

In a statement today United Oil & Gas described Mr Martin as “an experienced senior natural resources executive” who is bring a wealth of international expertise to the company.

Currently Mr Martin is a non-executive director at titanium minerals and zircon production company Kenmare Resources.

Commenting on the appointment, Brian Larkin, chief executive officer at United Oil & Gas said the company was “delighted” to welcome Mr Martin to the board.

"Graham’s addition to our board will further strengthen our strategic and corporate experience and will help us in achieving this goal and in ultimately delivering superior shareholder returns," Mr Larkin said.

Mr Martin has also previously served as an executive director, general counsel and company secretary at Tullow Oil.

"From 1997 until 2016, Mr. Martin was centrally involved in the growth of Tullow Oil into a FTSE100 business, and in the company’s transformative M&A programme," United said.

Prior to Tullow Oil, Mr. Martin was a partner at the US energy law firm Vinson & Elkins LLP, having started his legal career in Scotland.

Earlier this year the company announced that it had entered into a farm-out agreement with Corallian, a private UK oil and gas exploration company, to acquire an initial 10pc interest from Corallian in three licences held by a joint venture between Corallian and Corfe Energy offshore and onshore in the southern UK.

Under the agreement United will pay 13.33pc, or just under £1m (€1.1m), of the costs associated with the Colter well, which is planned for mid-2018.

These licences are located next to the largest onshore oil field in Europe, Wytch Farm, which has produced in excess of 450 million barrels of oil.

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