LONDON, Aug 5 (Reuters) - Oil and gas investment fund L1 Energy said on Wednesday it had appointed a former executive from oilfield services firm Schlumberger as president of its Mexican and South America business.
L1 Energy, part of Russian tycoon Mikhail Fridman’s LetterOne Group, said Juan Manuel Delgado, formerly Schlumberger’s chairman and executive director in Mexico and Central America, will be responsible for L1 Energy’s business development and future operations in Mexico and the broader region.
L1 Energy expanded its operations following the acquisition of German utility firm RWE’s oil and gas business DEA earlier this year. It said it intends to invest in Mexico’s expanding oil sector.
“We intend to invest for the long term in Mexico as the country’s energy industry enters an important new period,” L1 Energy executive chairman John Browne, a former chief executive officer at British oil and gas company BP, said.
Reporting by Ron Bousso. Editing by Jane Merriman