Cairn Energy has raided US independent Marathon Oil for a new exploration director as the current boss of the UK player’s exploration efforts heads for retirement.

 

Eric Hathon will replace long-time Cairn executive Richard Heaton as director of exploration when the latter steps aside at the upcoming annual general meeting in May.

Hathon brings with him more than 23 years of industry experience, most recently as director of conventional exploration at Houston-based Marathon.

US-educated geologist Hathon moved to Marathon in 1991 as exploration geologist, subsequently covering numerous roles in North and South America, the Middle East and Africa.

Hathon said of his appointment: I am joining the company at an exciting time as it looks to progress the significant finds made in Senegal that have opened up a new basin in West Africa.”

Cairn chief executive Simon Thomson said: “The management change announced today is part of a long term succession plan and will ensure Cairn continues to offer shareholders significant growth opportunities from a balanced portfolio of exploration and production assets.

“Eric brings a wealth of international industry experience and I am delighted to welcome him to Cairn.”

 

Thomson added: “I would like to thank Richard for his significant contribution over his long career at Cairn where he has been a core member of the team. Richard has added significant value for the company, from the early days of managing the business in Bangladesh to his role in the significant discoveries in India and more recently with our exploration success in Senegal.”

Cairn’s oil discoveries off Senegal are among the most closely-watched plays off West Africa at present. The company as just reached total depth at the SNE-5 appraisal well on the SNE field, with a drill stem test of the primary target now ongoing, partner FAR Ltd said on Thursday.