CAIRN Energy has recruited a prominent energy industry figure to its board as it prepares for a big increase in the scale of its operations.
Edinburgh-based Cairn said Alison Wood will become a non-executive director on July 1 and will be paid annual fees of £75,500.
The company said Ms Wood would bring a wealth of public company and energy market experience gained in senior positions at companies such as National Grid and BA Systems
“Her appointment will be an important asset to the Board, adding to its strength and depth as we continue our material exploration programme and look forward to additional sustained production and cash flow generation over the long term,” said Cairn’s chairman Ian Tyler.
Led by chief executive Simon Thomson, Cairn is mounting a big push for growth after starting production in 2017 from two North Sea fields, from which it generates huge amounts of cash.
Last month the company said it was on track with preparations to start production in 2022 from the bumper SNE find it made off Senegal in 2014. It expects to start production from the Nova field in the Norwegian North Sea in 2021.
Cairn is hunting for oil and gas in a range of areas that are considered to be relatively under-explored, in which it sees the potential to make transformational finds. These include the Gulf of Mexico and Suriname.
With a degree in engineering, economics and management from the University of Oxford, Ms Wood worked for management consultants, Booz Allen & Hamilton before spending 17 years in strategy and business development roles at BAE Systems.
She led on strategy and development at National Grid from 2008 to 2013.
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