United Oil signs new consultancy deal with Iman Hill

30th Apr 2024 16:26

(Sharecast News) - Jamaica and UK-focussed energy company United Oil & Gas announced a new consultancy arrangement with its non-executive director Iman Hill on Tuesday, to support the advancement of its Jamaican project.

The AIM-traded firm said Hill was bringing a wealth of experience as a petroleum engineer, with 30 years of expertise in the oil and gas industry.

It said her global experience spanned technical and commercial facets, including field development, capital projects, commercial negotiations, farm-outs, and production operations across regions such as the Middle East, North and West Africa, South America, the Far East, and the North Sea.

Notably, Hill had held key roles with industry giants like BP, Shell, BG Group, and Dana Gas, where she served as technical director, general manager of the United Arab Emirates, and president of Egypt, among other executive positions.

Under the consultancy agreement, Hill would provide her services to United for an initial period of three months, with the option for an extension by mutual agreement or termination with one month's written notice.

The consultancy fees would be commensurate with the scope of her role, and any expenses would be subject to prior agreement.

During the assignment, Hill would work from the Dublin office.

"Iman is a valued member of our board and I am pleased that she has agreed to provide additional support to the Jamaican project during this pivotal phase as we advance our work programme and the farmout process," said chief executive officer Brian Larkin.

"Iman's extensive experience of farm-outs will greatly benefit the team in the months ahead, and I'm excited to collaborate with her."

At 1546 BST, shares in United Oil & Gas were up 0.81% at 0.19p.

Reporting by Josh White for Sharecast.com.