Australian LNG player Santos revealed on Friday it has appointed a new executive team, called Excom, as the company is transitioning to a new operating model in a low oil price environment.
The new executive team will report to Kevin Gallagher , who started as new managing director and CEO of Santos in February, following the resignation of David Knox.
The executive team, based in Adelaide compromises of: Bill Ovenden – VP exploration, accountable for developing and executing a targeted exploration strategy; Brett Woods – VP development, accountable for delivering projects, sustaining capital work programs and non-operated assets; Vince Santostefano – COO, accountable for the profit and loss of all Santos operated producing assets ; John Anderson – executive VP commercial and business development; Andrew Seaton – CFO, and Angus Jaffray – executive VP strategy and corporate services.
“ The appointment of the Excom is a key step in establishing a new operating model for Santos that is focused on both lifting productivity and driving long-term value for shareholders in a low oil price environment ,” said Gallagher.
“ The new model involves a move away from geographic based business units to an asset focused model with strong technical capabilities in our primary business of exploration, development and production of oil and natural gas both onshore and offshore,” Gallagher added.
According to the CEO, corporate functions will be consolidated to further reduce costs and improve effectiveness.
“ We will manage our asset portfolio in a manner which delivers value to Santos shareholders ,” he concluded.
LNG World News Staff