SOURCE: Vantage Drilling International

Vantage Drilling International

August 11, 2016 17:58 ET

Vantage to Name Ihab Toma Chief Executive Officer and Member of the Board of Directors

HOUSTON, TX--(Marketwired - Aug 11, 2016) - Vantage Drilling International ("Vantage" or the "Company") announced today that its Board of Directors will name Mr. Ihab Toma as the Company's next Chief Executive Officer and member of the Board of Directors effective August 29, 2016. Mr. Toma will join Vantage Drilling with more than 30 years of experience in the oilfield industry. 

Tom Bates, the Chairman of the Company's Board of Directors, stated, "Ihab brings a wealth of experience in the global oil and gas industry in both the offshore drilling sector and the oilfield services segment. His experience, vision and leadership will be a tremendous asset to Vantage as we move forward after our restructuring with one of the strongest balance sheets in the offshore drilling industry."

Since 2014, Mr. Toma has been serving as a senior advisor to First Reserve Corporation, a leading global private equity and infrastructure firm exclusively focused on energy. From 2009 until 2013, Mr. Toma served in various executive capacities at Transocean, serving in the positions of Executive Vice President - Chief of Staff, Executive Vice President - Operations, Executive Vice President - Global Business and Senior Vice President - Marketing and Planning. 

Prior to his time at Transocean, from 1986 until 2009, he served in multiple roles at Schlumberger. He served as Vice President, Sales and Marketing for Europe, Africa and Caspian for Schlumberger Oilfield Services from April 2006 to August 2009. From 2000 to 2006, he led Schlumberger's Information Solutions business in various capacities, including President, Vice President - Sales and Marketing, Vice President - Information Management and Vice President - Europe, Africa and CIS Operations. Mr. Toma began his career with Schlumberger in 1986. He holds a Bachelor of Science degree in Electrical, Electronics and Communications Engineering from Cairo University, Egypt.

Mr. Toma commented, "I am honored to join Vantage as CEO and, while these are challenging times in our industry, I believe Vantage is an excellent platform from which to build a strong future. We have outstanding drilling assets and a management team that has demonstrated success in the most challenging operating conditions. I am excited about the next chapter for Vantage and very much look forward to working with our customers, employees and investors."

Vantage, a Cayman Islands exempted company, is an offshore drilling contractor, with a fleet of three ultra-deepwater drillships; the Platinum Explorer, the Titanium Explorer and the Tungsten Explorer, as well as four ultra-premium jackup drilling rigs. Vantage's primary business is to contract drilling units, related equipment and work crews primarily on a dayrate basis to drill oil and natural gas wells. Vantage also provides construction supervision services for, and will operate and manage, drilling units owned by others. Through its fleet of seven owned drilling units, Vantage is a provider of offshore contract drilling services globally to major, national and large independent oil and natural gas companies.