Troubled West of Shetland oil and gas explorer Hurricane Energy plc said on Friday it appointed veteran energy executive Antony Maris as its CEO designate.

Maris will work alongside interim CEO Beverley Smith for a transition period and will assume the role of CEO following the company’s interim 2020 results, scheduled for release on September 11, 2020, when Smith will return to a non-executive role.

Hurricane Energy’s shares have fallen about 90% in the past 12 months amid setbacks in its West of Shetland exploration.

“Mr Maris brings 35 years of wide-ranging oil and gas sector technical and business leadership experience to Hurricane,” said Hurricane.

“Most recently, he spent 15 years with Pharos Energy plc (previously SOCO International plc) where he was chief operating officer from 2012 to early 2020.

“In this role, he was responsible for the development and operation of several oilfields, in joint venture with local and other parties, including fractured basement reservoirs offshore Vietnam and onshore Yemen.

“Pharos Energy’s Vietnam assets, which delivered 60,000 bopd gross peak volumes, contributed significantly to Vietnam’s overall hydrocarbon output …

“Previously, Mr Maris worked in a variety of engineering, commercial and management roles with Consort Resources Limited, LASMO plc, Monument Oil and Gas plc, and Phillips Petroleum.”

Hurricane chairman Steven McTiernan said: “I am very pleased to report that Antony Maris has agreed to assume the chief executive role at Hurricane.

“His leadership record with entrepreneurial oil and gas companies, and importantly his technical experience and knowledge of the behaviour of fractured basement reservoirs, makes him the ideal candidate to lead Hurricane. 

“The short transition period with Beverley Smith will allow their combined contribution to the ongoing technical review.

“I would also like to take this opportunity to express my gratitude to Beverley for ably stewarding the company during the leadership transition.”