Benedict Peters: Investing In People Will Deliver Continuous Growth

Posted by Benedict Peters - Aiteo Group


In a troublesome year for the oil market, it has been a transformative year for Aiteo Group. The test so far has been demonstrating the resilience of Aiteo in the face of unfavourable headwinds, both domestically and in the global oil market. I believe that we have done so admirably. So now, the true test and the challenge to which we must rise is to deliver a new chapter in Aiteo's history: one in which we do not simply demonstrate leadership in oil, but leadership in business.

Today we have announced the appointment of Bruce Burrows as our first Global Group Chief Financial Officer (CFO) of Aiteo Group. There is a parable about the foolish man who built his house on the sand, and the wise man who built it on the rock. Neither winds nor floods; neither rain nor gale nor any other misfortune could topple the house with strong foundations. Such is the nature of the business I am building at Aiteo. We know the unpredictable nature of the global oil market, but we cannot let our company be buffeted on the waves of economic turmoil. Success lies in hoping for the best but having strong plans, strong leadership and strong resources in place for the worst.

The appointment of Bruce Burrows to this new role at Aiteo is not simply a commitment to good governance, but to strong foundations. I believe that responsible, prudent and long-sighted financial management is the backbone of any business and I am committed to ensuring that we have the right people in place to deliver continuous growth and protracted success. Bruce's experience at JKX Oil and Gas, Lekoil and Seven Energy will be invaluable to our existing and new operations in the oil and gas markets, whilst his role at Ernst and Young gives us the right breadth and depth of perspective for sustainable development overseas.

The consistency with which we have delivered and sustained positive production levels at our Aiteo sites has more than proven our ability to deliver on promises. We have succeeded where not even world-leading IOCs have been able to, and we believe that our best years are still ahead of us. Our appointment of Bruce to CFO chimes perfectly with the international vision we laid out earlier this year with the appointment of Ratko Knezevic, our first Group Advisor on Business and Capital: expansionist aims, underwritten by shrewd financial management. We are building an unassailable team and I believe it will deliver unparalleled results.

We are proud to be at the vanguard of Nigeria's oil and gas market and we will continue to set the standard for innovation, sustainable development and leadership therein.

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