Heritage's CEO formally takes up CEO role

HERITAGE Petroleum says Erik Keskula has formally taken up the role of chief executive officer.

In a release on Sunday, the company said former CEO Arlene Chow retired on June 13.

Keskula’s appointment was recently announced by Trinidad Petroleum Holdings chairman Michael Quamina SC.

Keskula is a geophysical engineer by profession and served as president of the Malaysia

business unit for ConocoPhillips - the largest US independent exploration and production company.

Quamina said, “Erik is a recognised technical expert with a track record of delivering innovative and superior results in exploration and technology across various geologies and a range of countries.

“His appointment is timely for us for a number of reasons, but particularly as we face the challenges of delivering on our production targets in a changing operational environment.

“At this phase of our strategy execution, we are focused on progressing reserves and resources and delivering on production targets through a more robust drilling and workover program.

“His experience shows that he has proven capability in getting the most out of mature assets like ours at Heritage, so we will rely on his knowledge and expertise in the innovative application of technology.”

Since assuming duties, Keskula has met with Energy Minister Stuart Young and Heritage’s board and executive team. He has toured the company’s installations and is in the process of holding budget meetings so he can better understand issues facing the company, the release said.

He said he was excited about the possibilities for Heritage Petroleum.

“Our success will rely heavily on internal collaboration, and I have commenced that process. The Heritage team managing these nationally important hydrocarbon assets is world-class.

“I believe we can now build off of the tremendous work done so far to ensure that we future-proof our operations and infrastructure to deliver maximum value to the country – and to do so safely, effectively and within budget.

“From my initial review of the business and drawing particularly on my experience in Alaska and Malaysia, these assets have significant potential, and I look forward to working with the team to enhance our capability, commercial competitiveness, operational resilience and

responsible environmental stewardship.”

Quamina said Heritage is actively pursuing opportunities to enhance value through partnerships and service-related joint ventures locally, as well as in Barbados, Suriname and Guyana.