Mobil Producing Nigeria Unlimited has announced the appointment of Mr. Paul McGrath as the new Chairman and Managing Director effective March 1, 2017. McGrath will succeed Mr. Nolan O’Neal, who has elected to retire after 34 years of service.
McGrath was most recently a senior executive in charge of project execution for ExxonMobil Development Company, based in Houston, Texas. He joined ExxonMobil in 1999 and has held a variety of technical and managerial positions in upstream and downstream operations while working in the United Kingdom, Korea, Qatar, Australia and the United States.
The company, a subsidiary of ExxonMobil announced its fourth quarter result recently
It will be recalled that the tenure of the outgoing Managing Director recorded highest investment among the International Oil Companies ( IOCs) in Nigerian oil and gas industry. This includes huge investment in seismic activities, storage of 9000 JV seismic data tapes, rig count, well drilling and excellent business operations . For instance, MPN made an investment of approximately $1.5 billion in direct exploration and production between 2014 and 2015. The company also recorded milestones with the recent completion of OML 104 APSDM, which emerged the largest seismic project.