UK-focused Oil and gas company Ithaca Energy has appointed former Repsol Sinopec CEO Bill Dunnet as its new CEO. Dunnet will take over the CEO role from his predecessor Les Thomas.
Dunnett is a Chartered Engineer with over 35 years experience in the oil and gas industry, in various engineering, operational and senior management positions in the UK and internationally.
He recently stepped down from the position of CEO of of Repsol-Sinopec Resources UK, after five years in the position.
Before Repsol Sinopec, Dunnet worked in various positions at Petrofac, Halliburton, Mobil North Sea, and Shell. He has served as Chair of the MER UK Technology Leadership Board and been a Board Member of both OGUK and The Oil and Gas Technology Centre.
In recent news, Ithaca last month shared its total proved and probable reserves (“2P”) and resources (“2C”) as at June 30, 2020.
They have been estimated to be 258 million barrels of oil equivalent (“MMboe”). Taking into account approximately 13 MMboe of production in the first half of 2020, the Company’s 2P reserves outlook is essentially unchanged compared to the year-end 2019 evaluation, as is the 2C resource outlook, Ithaca said.
The total resource base is comprised of 191 MMboe 2P reserves and 67 MMboe 2C resources. This equates to an approximately 10-year reserve and resource life based on forecast 2020 production.