High-level shake-up at Tamboran

 

FORMER ISLAND Oil Gas executive Karl Prenderville has become one of two regional directors at Tamboran.

The move is part of a management shake-up at Tamboran, which is planning a major exploration programme in the northwest.

The group has also put on hold plans to hire 10 people and begin a training programme in the region while it awaits the publication of a report that is likely to help determine Government policy on hydraulic fracturing, or fracking.

Tamboran announced in January that tests indicated that an area split between counties Leitrim and Fermanagh contained 4.4 trillion cubic feet of natural gas, enough to supply daily consumption in Ireland for 12 years.

The gas can only be extracted by fracking, a process that involves using water to fracture the rock face. However, there is considerable opposition in the area to the use of this controversial drilling technique.

The Government is awaiting the findings of an Environmental Protection Agency report on the technique before deciding on its policy.

Tamboran had planned to hire 10 people and begin training this summer but has decided to put this on hold until the Government decides on its policy.

The company also announced yesterday that Richard Moorman has decided to step down as chief executive. Tamboran chairman Patrick Elliott will become executive chairman.

Mr Prenderville and his colleague Dr Tony Bazley have been given “expanded roles” as regional directors, reporting to Mr Elliott.

Mr Prenderville, who has been working as a commercial director with Tamboran, is well-known in the Irish exploration industry. He previously worked for Island Oil Gas and for Enterprise Oil, which found the Corrib field.

Mr Moorman is leaving his post as chief executive to take up other opportunities. However, he will become a member of Tamboran’s technical advisory board.