Dubai: Dana Gas elected a new 12-member Board of Director for three years at its Annual General Meeting on Thursday.

Hamid Dhia Jafar has been elected Chairman and Rashid Saif Al Jarwan as Vice-Chairman. They replace Adel Al Sabeeh and Taqfeeq Al Moayed, respectively, according to an emailed statement from the energy firm.

Other new members of the board include former Kuwaiti Oil Minister and former Chief Executive of Kuwait Petroleum Corporation, Abdulaziz Hussein, and Fatima Obaid Al Jaber, chief operating officer at Al Jaber Group in Abu Dhabi.

Al Sabeeh and Al Moayed were thanked for their leadership that oversaw the refinancing of a $1 billion Sukuk in 2013, according to the statement.

Last year, Dana Gas made a net profit of $125 million amid the collapse of global oil prices in the second half of the year.

Thursday’s meeting was chaired by Al Moayed. The new 12-member Board of Directors has been elected for the coming three year term.

Dana Gas shares, which did not trade on Thursday due to the AGM, closed this week at Dh0.51 a share.