Sound Energy PLC Appoints Majid Shafiq as CEO and Board Member

Strategic Insights -

Graham Lyon, the Executive Chairman of Sound Energy PLC, will transition to non-executive Chairman over the next six months as Majid Shafiq takes on the role of Chief Executive Officer. Shafiq brings over 35 years of experience in the energy sector, including stints at Mobil North Sea Limited and London-based investment banks. His background in petroleum engineering, commercial roles, and investment banking equips him with a comprehensive understanding of the energy sector, allowing him to execute growth strategies and deliver shareholder value. Shafiq's recent tenure as CEO of i3 Energy plc, where he oversaw the company's growth from a micro-cap to a producing business, further bolsters his credentials.

Key Takeaways:

  • Majid Shafiq, a seasoned professional with over 35 years of experience in the energy sector, has been appointed as Chief Executive Officer of Sound Energy PLC.
  • Shafiq has held various positions, including petroleum engineering and commercial roles at Mobil North Sea Limited, and investment banking at firms such as Tristone Capital and FirstEnergy Capital.
  • As CEO of i3 Energy plc, Shafiq oversaw the company's growth from a pre-revenue micro-cap to a business producing 20,000 barrels of oil equivalent per day.
  • During his tenure, i3 Energy plc distributed over £45 million in dividends and was sold for £174 million at the end of 2024.
  • Shafiq holds an MEng in Petroleum Engineering and an MBA.
  • Graham Lyon, the current Executive Chairman of Sound Energy PLC, will transition to non-executive Chairman over the course of the next six months.

Statistics:

  • Sound Energy PLC is an AIM-listed transition energy company.
  • Majid Shafiq has 35 years of experience in the energy sector.
  • i3 Energy plc, under Majid Shafiq's leadership, grew from a pre-revenue micro-cap to a business producing 20,000 barrels of oil equivalent per day.
  • i3 Energy plc distributed over £45 million in dividends during Majid Shafiq's tenure.
  • i3 Energy plc was sold for £174 million at the end of 2024.

Sources:

  • Sound Energy PLC's press release.
  • Gulfoilandgas.com.