Brooge Energy Appoints Syed Masood Ali as Acting Chief Financial Officer

Saleh Yammout, former CFO, continues his work for the Company in his role as Board Member

NEW YORK, April 27, 2020 (GLOBE NEWSWIRE) -- Brooge Energy Limited (“Brooge Energy” or the “Company”) (NASDAQ: BROG), a midstream oil storage and service provider strategically located outside the Strait of Hormuz, adjacent to the Port of Fujairah in the United Arab Emirates (“UAE”) through its wholly-owned subsidiary Brooge Petroleum and Gas Investment Company FZE (“BPGIC”), announced today the appointment of Syed Masood Ali as Chief Financial Officer. Saleh Yammout, former CFO, is to continue working with the Company as a board member.

Nico Paardenkooper, CEO of Brooge Energy, commented, “Syed brings to our senior management team an impressive corporate finance and international reporting background. As a newly public company, we will continue to bolster Brooge’s team with talented professionals that have complementary experience and will support us in building value for our shareholders. With deep expertise and knowledge in all aspects of corporate finance, financial planning and financial governance, we believe Syed has the required leadership capabilities to help strategically manage our growth as Brooge enters a new chapter in its growth, with the upcoming launch of Phase II operations and our planned expansion of Phase III for which the FEED process has started.”  

Mr. Syed brings to Brooge Energy banking, finance, marketing and management experience in multiple international markets. Mr. Syed has experience in leading and managing independent treasury and banking functions in the Middle East, Africa and Europe. Former engagements of Mr. Syed include Executive Director of Family Offices at First Abu Dhabi Bank where he managed the designated Family Office portfolios and held positions at Emirates Islamic Bank, Dubai Bank, Abu Dhabi Islamic Bank and Askari Commercial Bank Limited. Mr. Syed has a Master of Business Administration (MBA) from Newport University, California.

Mr. Syed Masood Ali, newly appointed Acting Chief Financial Officer, commented, “I am pleased to join Brooge during this critical time in the Company’s history, having recently gone public and approaching significant growth opportunities both in the near term and over the next few years as it executes on its strategy to become the largest oil storage provider in Fujairah. Together with the management team, I will leverage my financial experience and deep banking relationships to support the Company in its growth strategy.”