Oil Search board: Search for new chief well advanced


OIL Search chairman board Rick Lee says the search for a chief executive officer to replace Peter Botten is “well advanced”.
Speaking at Oil Search’s annual general meeting in Port Moresby last Friday, Lee said: “A management reorganisation has commenced, to equip the company with the talent, experience, accountabilities and reporting lines capable of delivering our operational and growth ambitions.
“As part of this, the board is well advanced on succession planning and the search for, and assessment of, leadership talent.
“This includes a structured plan to manage the succession of managing director Peter Botten who has led Oil Search for more than 25 years.
“Peter has committed to guiding the company through to the final investment decisions for each of our LNG developments, ensuring a smooth transition to new leadership.
“His deep commitment to PNG and focus on improving social development in-country will continue to support the company through his role as chairman of the Oil Search Foundation.
“The board will keep shareholders fully informed as the succession process progresses.”
Several changes were made to the Oil Search board last year including Gerea Aopi’s resignation as executive director after 12 years of dedicated service.
Lee said: “The company continues to benefit from Aopi’s extensive experience and relationships in PNG in his current role as PNG country chairman.
“Following an extensive international search, we welcomed Susan Cunningham and Dr Bakheet Al Katheeri as non-executive directors to the board.
“Susan and Bakheet’s considerable oil and gas experience complement the board’s skills and will be particularly valuable as we work to deliver LNG expansion in PNG and unlock the value from our assets on the Alaska North Slope.
“During the year, we increased the number of independent members on our board committees from three PNG citizens to six.”