LONDON Jan 31 David Peattie, the head of
British oil company BP's often fraught Russian business,
is leaving to run privately-owned North Sea oil producer
Fairfield Energy, the companies said on Thursday.
The move comes as BP plans to sell its stake in its main
Russian investment, TNK-BP - one of the country's biggest oil
Peattie was one of a generation of managers at BP, including
former chief executive Tony Hayward, that were seen as possible
future leaders of the company. He will continue to sit on the
board of TNK-BP until BP completes the sale of its half share to
Russian state-controlled Rosneft.
Fairfield Energy is owned by a consortium of private and
institutional investors from Europe and North America led by
private equity firm Warburg Pincus and investment house
Riverstone, where former BP CEO John Browne is a partner.
Peattie, a 32 years veteran of BP, succeeds Chris Wright at
BP decided to sell its TNK-BP stake last year after years of
spats with its oligarch co-owners.