Tecpetrol S.A. has announced the appointment of Ricardo Markous, General Director of Business Development, Gas & Power and Marketing, to replace Carlos Ormachea as CEO of Tecpetrol from from April 1, 2021.

Ricardo Markous is a civil engineer and graduate of the University of Buenos Aires with a Master’s of Science in Management from Stanford University. He has been at the head of Tecpetrol’s business development, gas & power and marketing areas in Argentina since 2005. Markous has a history of 40 years with the Techint Group, and prior to this held various executive positions, such as at the helm of the Gas Division of the Techint Group and on the board of Transportadora Gas del Norte (TGN).

"Thanks to the team formed by Carlos Ormachea, in addition to the company’s assets in Argentina – particularly Fortin de Piedra in Vaca Muerta which has had such an impact on the gas market – as well as in Bolivia, Colombia, Ecuador, Mexico, Peru and Venezuela, Tecpetrol will continue to be a major player in the region’s energy development. Our aim is also to take an active role in the energy transition at regional level, leveraging not only Tecpetrol’s own experience and know-how, but also that of the rest of the Techint Group," said Ricardo Markous, future CEO of Tecpetrol.

After 17 years as CEO of Tecpetrol and more than 40 years in the Techint Group, Carlos Ormachea will continue to serve, now as Chairman of Tecpetrol. During his time as CEO, the company underwent a strategic transformation, distinguished in recent years by the development of the Fortín de Piedra gas field in the Vaca Muerta basin in Argentina. In a record-breaking period of barely 18 months, and with an investment of over USD 2.1 billion, yield at this shale gas play went from zero to a daily output of 17.5 million cubic meters of gas, contributing 13% of Argentina's total gas production. This achievement was the result of extraordinary work on the part of a team endowed with strong financial, commercial, operational and production capabilities. Their skills and efforts were instrumental in completing a long-term project which was crucial for the development of the energy value chain, driving local employment and creating value for both gas consumers and for the company.

"Ricardo has extensive knowledge of the energy market, and is a great leader who will continue to drive growth at Tecpetrol and develop its people. He has played a key role in some of the company’s most important projects in Argentina, Mexico and Peru, and his contribution has been vital to the achievement of the objectives we set ourselves,” explained Carlos Ormachea, who will become Chairman of Tecpetrol as of April 1.