Premier Oil has appointed a new chairman to succeed Mike Welton after eight years at the helm.
Mr Welton announced in March that he was standing down once a successor was found.
Roy Franklin, OBE, a 40 year oil and gas veteran and interim chairman of Statoil ASA, is now to take the reigns.
Mr Franklin’s career gas taken him from BP to Paladin Resources.
He is currently a non-executive director of Amec Foster Wheeler and, on completion with the firm’s merger with Wood Group, will become deputy chairman and senior independent director of the combined group.
In 2004, Mr Frankline was awarded the OBE for services to the UK oil and gas industry.
He will join the Premier’s board as non-executive Chairman with effect from September 1.
In addition, Dave Blackwood and Mike Wheeler will also join the Board with immediate effect as new Non-Executive Directors.
These appointments follow the retirement of Joe Darby and David Lindsell at the company’s AGM in May.
Mr Welton, the departing chairman, said: “I am delighted to welcome Roy, Dave and Mike to Premier’s board.
“I am absolutely confident that their experience and skills will be of enormous value to the Board and the Company as a whole.
“It has been a privilege to have been chairman of Premier for some eight years.
“It is a company with great potential and I am sure that Roy is an excellent choice to chair the Board for the next phase of its development.”
Commenting on his appointment, Roy Franklin said: “I very much look forward to joining the Board and chairing Premier, a company I have known well for many years.
“I would like to congratulate Mike Welton on leading the company through a very challenging industry downturn and very much look forward to working with the Board, the management team and all stakeholders.”
Premier Oil confirmed a 1billion barrel estimate for a giant discovery offshore Mexico last month.
Premier, which completed its refinancing on Friday, said drilling operations had been completed for the final section of the Zama-1 exploration well.
It also completed a major debt refinancing.