Premier Oil appoints new finance chief to helm Chrysaor merger

Premier Oil has appointed a new finance chief who will join the firm upon the completion of its merger with fellow oil explorer Chrysaor.

Alexander Krane, a 20-year industry veteran, will join the newly-minted Harbour Energy from 15 April.

He replaces Richard Rose, who will step down from the role of interim chief executive and finance chief when the reverse takeover has been completed.

Krane joins the new company from Aker ASA, the Norwegian investment firm, where he was a director.

He previously held roles at KPMG, Norse Energy, and Aker BP.

He will be tasked with running the finances of the newly merged firm, which will be a comparative leviathan among independent energy producers.

As a result of the merger the group will have a combined production of over 250,000 barrels of oil per day.

It will be the biggest independent oil explorer listed on the London markets.

Premier said that “a new service agreement will be put in place between Krane and Premier following completion of the merger.”

“It is intended that the terms will be appropriate for an executive director of a group of the size, complexity and nature of the Company following completion”, it added.

Source: cityam.com

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