Niger Delta Exploration & Production Plc (NDEP) Announces the Appointment Of Two New Executive Positions

Niger Delta Exploration & Production Plc (NDEP) is pleased to announce a re-composition of its Board of Directors. This is coming immediately, following the recent retirements of two Pioneer Directors – Mr. Sammy Olagbaju (a non Executive Director) and Chief David Richards (the former Finance Director) from the Board of the company as at the end of December 2011.

Mr. Patrick Olufemi Balogun, the Finance Controller assumes the function of Executive Director- Finance, while Mr. Nuhu Adaji (Adviser Gas Development) assumes the Function of Executive Director-Technical. Both appointments take effect from the 1st of January 2012.

In a major move which aims to enhance and improve not just the executive capacity but also the execution capabilities of the fast growing company and its wholly owned subsidiaries, both new executive appointments were made after an extended review of the Corporate business processes of the company, at the last Board meeting in December 2011.

The newly appointed Executive members, will work in concert with other members of the Board and Management of the subsidiary companies, with a charge and mandate to facilitate and implement in the immediate future, a progressive internal growth and maturation process for a new crop of future managers from within its ever growing young workforce, identifying those who show significant promise and supporting their development through active mentoring for senior level responsibilities.

In making the appointments, the Chairman of the Board, Mr. Ben Osuno observed that the appointments mark the start of a self regeneration process, which in itself, brings new energy and further will serve as stimulus to revitalize not just the Board and Management, but also prepare and position the company for the vigorous demands in managing the growth path and the diversity of new opportunities which the company is currently pursuing.

Ends

Director Biographies

Mr Femi Balogun

Mr. Femi Balogun is a Chartered Accountant with more than thirty years of working experience. After graduating from the University of Ibadan in 1973 with a BSc. Hons Degree in Chemistry and Geology, he was admitted as an Associate of the Chartered Institute of Taxation in London in 1979.

Thereafter, he commenced his accounting career with the Shell Petroleum Development Company of Nigeria as a Senior Internal Auditor in 1980. He was appointed as the Group Financial Controller for the Yinka Folawiyo Group of Companies in 1983.

From 1988, he served as Finance Manager with the International Institute of Tropical Agriculture (IITA) Ibadan, returning to the Oil industry in 1994 with his appointment as Executive Director Finance and Administration at Oil Scan Limited – A Petroleum Service Company, based in Port Harcourt.

He joined Niger Delta Exploration & Production Plc in 2003 as Group Finance Controller. He is a Fellow of the Chartered Certified Accountants London since 1987.

Mr. Nuhu Adaji

Mr. Nuhu Adaji, prior to this appointment served on the Management Board of the wholly owned operating subsidiary company – Niger Delta Petroleum Resources Limited (NDPR) – as Gas Business Adviser.

He began his Oil and Gas Industry career in 1976 as a Well Site Petroleum Engineer at the Shell Petroleum Development Company in the Petroleum Engineering Department after graduating from the University of Manchester. In 1978 he became an Operations Engineer, responsible for programming and supervising rig drilling and work over activities. He was transferred to the Production Technology Section in 1981, as a Production Technologist, responsible for well completion designs, well surveillance and preparation of work over proposals.

In 1989, he was transferred on international posting to Brunei Shell Petroleum (BSP) as a Senior Production Technologist, responsible for Offshore Fields, returning to Nigeria in 1994 as Head of Production Technology Information Technology (PT IT). Between 1996 and 1998, Nuhu served as Head of Production Technology in the Northern Swamp and in 1998 was appointed Head of Production Technology, responsible for all the Land Fields in the West Niger Delta. He was appointed as Head Area Development (Chief Petroleum Engineer) in 1999 for the Southern Swamp District, with responsibilities for field reviews, development planning and implementation, drilling monitoring and production optimization.

In 2003, he became the Corporate Chief Production Technologist for Shell Petroleum Development Company, focusing on new technology, produced water management and staff development. He left SPDC at the end of 2004 to start an independent petroleum industry services consultancy. He is a member of the Society of Petroleum Engineers.

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