Press release
Board of
Directors Changes
Ithaca Energy plc, ("Ithaca Energy"
or the "Company"), a leading independent oil and gas operator in
the North Sea today formally announces the appointment of Yaniv
Friedman as Executive Chairman. Today's appointment follows the
announcement on 28 May 2024 of a number of changes to the Company's
Board of Directors and Executive Management team, including that of
Yaniv Friedman's appointment, to strengthen the Company's executive
leadership as it embarks on its next phase of growth, having
recently announced its proposed transformational business
combination with substantially all of the upstream assets of Eni in
the UK.
Yaniv Friedman has significant global executive
experience working in the energy and infrastructure sectors and
brings considerable strategic, commercial, public company and
M&A expertise. Yaniv most recently held the role of CEO of
Modiin Energy LP, an oil and gas partnership listed on the Tel Aviv
Stock Exchange with operations including development projects in
the US as well as exploration offshore Israel. Prior to this, Yaniv
served as Deputy Chief Executive Officer of Newmed Energy LP,
Israel's leading energy partnership in the exploration,
development, production and sale of natural gas. Yaniv has also
held other senior executive positions in public and private
energy companies.
There is no further information to be disclosed
pursuant to Listing Rule 9.6.13.
Dave Blackwood, CBE having temporarily served
as non-executive Chairman will return to his role as a
non-executive director.
Enquiries
Note to editors:
About Ithaca Energy plc
Ithaca Energy is a leading UK
independent exploration and production company focused on the UK
North Sea with a strong track record of material value creation. In
recent years, the Company has been focused on growing its portfolio
of assets through both organic investment programmes and
acquisitions and has seen a period of significant M&A driven
growth centred upon two transformational acquisitions in recent
years. Today, Ithaca Energy is one of the largest independent oil
and gas companies in the United Kingdom Continental Shelf (the
"UKCS"), ranking second by resources.
With stakes in six of the ten
largest fields in the UKCS and two of UKCS's largest
pre-development fields, and with energy security currently being a
key focus of the UK Government, the Group believes it can utilise
its significant reserves and operational capabilities to play a key
role in delivering security of domestic energy supply from the
UKCS.
Ithaca Energy serves today's needs
for domestic energy through operating sustainably. The Group
achieves this by harnessing Ithaca Energy's deep operational
expertise and innovative minds to collectively challenge the norm,
continually seeking better ways to meet evolving
demands.
Ithaca Energy's commitment to
delivering attractive and sustainable returns is supported by a
well-defined emissions-reduction strategy with a target of
achieving net zero by 2040.
Ithaca Energy plc was admitted to
trading on the London Stock Exchange (LON: ITH) on 14 November
2022.
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