Terra Resources names new president

Terra Resources PLC, a London-based independent oil and gas company listed on the Frankfurt Stock Exchange under the trading symbol “T31,” has appointed Dmitriy Salop as president of the company effective immediately.

For the past 15 years, Salop has served as president, managing director, and in other executive positions in major Russian enterprises, engaged in oil investing, production, trading, transportation, manufacturing, and equipment sales. His experience includes stints at Ogo-Profit, a Russian-based enterprise developing Russian national strategic reserves of oil; RayzInvest, an exporter of resources within the Russian Federation; Arco Petroleum, where he set the firm’s global business agenda in oil and gas investments, oil product trading, government agencies, vendor, and trading partners' policies; ZAO Logovaz, where he was in charge of equipment realization and transportation; and at Silver Capital, where he managed the export of industrial and oilfield equipment.

Salop completed his undergraduate education in the UK and Ukraine. He earned his graduate degree in economics and business administration from Economics Institute, Zoloturn, Switzerland, and his graduate law degree from the Moscow Government Law Academy.

Terra Resources holds substantial oil and gas concessions in the North Caspian Region, Kalmykia, Russia. The licensed territories encompass about 85,000 acres. The fields contain 64 wells, of which 62 were producing. The wells were capped and remained non-productive for many years because of previous low gas prices and technology that could not handle the volume produced by high pressure wells. Terra Resources plans to open the wells again, and secure transportation via a newly built gas and oil pipeline.

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