Rabat - PetroMaroc Corporation plc (formerly Longreach Oil and Gas Limited) announced in a press release on Thursday that its Board of Directors has appointed Thomas Feuchtwanger as its new President & Chief Executive Officer and a Director of the Company.
Dennis Sharp, PetroMaroc's Chairman, praised Thomas’ experience in exploring and producing oil and natural gas. He stressed that he can lead PetroMaroc to become the leading hydrocarbon producer in Morocco.
"Thomas is a highly accomplished and experienced leader who has built a successful career exploring for and producing oil and natural gas in Canadaand a variety of international locations,” Dennis said.
“With more than three decades of experience building value from complex and challenging geological structures, Thomas is ideally suited to lead PetroMaroc as it strives to become the leading hydrocarbon producer in Morocco,” he added.
Thomas Feuchtwanger is a seasoned geologist and petroleum management professional with a background in Canada.
In 1992, Thomas was appointed Vice President of Exploration at CS Resources, a Western Canadian junior oil and natural gas company, where he was part of a team that grew production to 18,000 barrels of oil per day and market capitalization to C$550 million.
He also worked in senior executive positions at a number of Canadian companies, including as President, CEO, and Director of Largo Petroleum, which was exploring in Tunisia.
Thomas first joined PetroMaroc last January as Vice President of Geosciences, and subsequently became Vice President of Exploration at the start of this year.
PetroMaroc is an independent oil and gas company with a highly qualified management team. The Company is focused on Morocco, which offers a politically stable environment and extremely favourable fiscal terms to energy producers. The Company has a 50 percent operated interest in the Sidi Moktar licence area, covering 2,683 square kilometers. It is working closely with the Moroccan hydrocarbons Office (ONHYM) as a committed long-term partner to unlock the hydrocarbon potential of the region.