Maurel & Prom: Changes in Governance

PARIS--(BUSINESS WIRE)--Regulatory News:

Maurel & Prom (Paris:MAU):

Nomination of Jaffee Suardin, Chairman of the Board of Directors

On the recommendation of the Appointments and Remuneration Committee, the Board of Directors, at their meeting on 17 July 2024, appointed Jaffee Suardin as a director and appointed him Chairman of the Board, succeeding John Anis for the remainder of his term.

The Board commends John Anis for his dedication and contribution. His experience and personal qualities have significantly benefited the Board's work throughout his tenure.

Jaffee Suardin is currently CEO of Pertamina Internasional EP and spent more than 20 years in the oil and gas industry, as well as 4 years tenure with the Ministry of Energy and Mineral Resources of the Republic of Indonesia. His vision and experience will be a great asset to the Group.

Olivier de Langavant, Chief Executive Officer of Maurel & Prom, said:
‘I would like to thank John Anis for his major contribution and his decisive support to M&P’s development, and I look forward to working with Jaffee Suardin as M&P continues on its journey.’

Maurel & Prom's new Chairman of the Board of Directors, Jaffee Suardin, said:
‘I am delighted by the confidence the Board has shown in me. I will support the management to fulfil the commitment for sustainable growth of M&P and the value creation for its shareholders, along with the talents and dedication of teams within the entire M&P Group.’

Appointment of two new directors

The Board of Directors today also noted the resignations of Harry Zen, Director and Member of the Audit Committee, and Daniel Purba, member of the Investment and Risk Committee and the Sustainability Committee. The Board wishes to thank Harry Zen and Daniel Purba for their contributions to the work of the Board and its committees.

The Board of Directors appointed Awang Lazuardi as a Director and appointed him as a member of the Sustainability Committee; it also appointed Bagus Rahadiansyah as a Director and appointed him as a member of the Audit Committee and of the Investments and Risks Committee.

Thanks to these appointments, the composition of the Board continues to comply with regulations concerning independence and gender balance.

The new composition of the specialised committees is as follows:

Audit Committee
Carole d'Armaillé, Chairman, independent director
Caroline Catoire, independent director
Bagus Rahadiansyah, director

Investments and Risks Committee
Marc Blaizot, Chairman, independent director
Nathalie Delapalme, director
Bagus Rahadiansyah, director
Jaffee Suardin, director (Chairman of the Board)

Sustainability Committee
Nathalie Delapalme, Chairman, director
Marc Blaizot, independent director
Caroline Catoire, independent director
Awang Lazuardi, director

The composition of the appointment and remuneration committee remains unchanged:

Appointment and Remuneration Committee
Caroline Catoire, Chairman, independent director
Carole d'Armaillé, independent director
Ria Noveria, director

Biography

Jaffee Suardin, 47 years old, is a graduate of Bandung Institute of Technology, and holds a master's degree and doctorate from Texas A&M University, USA. He began his career as Global Projects Manager at Shell Texas in 2006. Subsequently, he held the position of Vice President of Engineering at Petroneering, LLC, in Houston. In 2016, he joined Indonesia's Ministry of Energy and Mineral Resources as an expert. Later he was appointed President Director of Pertamina Hulu Rokan in 2021 and selected as President Director of PIEP in 2023.

Biographies of the new directors are available on our website.

Glossary

Français			English
pieds cubes	pc	cf	cubic feet
millions de pieds cubes par jour	Mpc/j	mmcfd	million cubic feet per day
milliards de pieds cubes	Gpc	bcf	billion cubic feet
baril	B	bbl	barrel
barils d’huile par jour	b/j	bopd	barrels of oil per day
millions de barils	Mb	mmbbls	million barrels
barils équivalent pétrole	bep	boe	barrels of oil equivalent
barils équivalent pétrole par jour	bep/j	boepd	barrels of oil equivalent per day
millions de barils équivalent pétrole	Mbep	mmboe	million barrels of oil equivalent

This document may contain forecasts regarding the financial position, results, business and industrial strategy of Maurel & Prom. By their very nature, forecasts involve risk and uncertainty insofar as they are based on events or circumstances which may or may not occur in the future. These forecasts are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors, such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production rates and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.

Maurel & Prom is listed on Euronext Paris
SBF 120 – CAC Mid 60 – CAC Mid & Small – CAC All-Tradable – Eligible PEA-PME and SRD
Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA