Australian energy company Santos has appointed Kevin Gallagher, currently CEO of engineering services group, Clough, as the new Managing Director and CEO of Santos.
Gallagher is expected to join Santos in early 2016, subject to agreement on a release date with Clough.
Santos Executive Chairman, Peter Coates said: “Kevin has nearly 25 years’ experience in managing oil and gas operations in Australia, the USA and North and West Africa,”
Coates said Gallagher was ideally suited to lead Santos as “we move from a focus on major strategic developments to delivering strong operational results in a continuing low oil price environment.”
“Kevin will bring fresh insight and a proven track record of achievement for shareholders from a career that spans international oil experience with Mobil, the Woodside operated North West Shelf LNG venture and most recently, as CEO of Clough since 2011,” Coates said, adding: “I have said through the course of this year that with the major LNG project investment phase ending and the oil price outlook remaining low, Santos had to take action to become a more agile , low cost producer delivering attractive shareholder value.”
Clough on Monday issued a separate statement informing of Gallagher’s resignation.
“During his time at Clough, Kevin has transformed the business, delivering record financial and operational performance. Proprietary safety and project management systems and programs developed during Kevin’s tenure have ensured Clough delivers excellence in project execution.
A global search for Kevin’s successor will commence immediately, and will consider both internal and external candidates,” Clough said in the statement.