Japanese oil and gas company Inpex, the operator of the giant Ichthys LNG project in Australia, will be making a series of organizational changes in a bid to reinforce oil & gas exploration and M&A capabilities.
The Japanese company on Monday announced a series of organizational changes whereby it will establish the “New Ventures & Global Exploration Division” and “Strategic Projects Office,” reorganize the overseas regional project divisions and the “Technical Division” and reposition the “Legal Unit” as a standalone unit reporting directly to the President & CEO.
The company will also make associated personnel appointments at the General Manager level, effective June 25, 2019.
According to Inpex, the current “New Ventures Division” will be restructured into the “New Ventures & Global Exploration Division” in order to reinforce oil & gas exploration and M&A capabilities. The “New Ventures & Global Exploration Division” will consist of the existing “Business Development Unit” and “Global Exploration Unit” as well as the newly created “Exploration Strategy Unit,” which will comprehensively oversee the strategic management and capital distribution of Inpex’s exploration operations.
The company further said that the “Strategic Projects Office,” which will report directly to the President & CEO, will provide counsel on the implementation of key projects shaping management strategy in order to strengthen project management and execution.
Inpex explained that, in order to establish a business structure enabling the efficient implementation of oil & natural gas upstream operations outside of Japan, the current overseas regional project project divisions will be reorganized into the “Asia Projects Division,” “Oceania Projects Division,” “Americas Projects Division,” “Eurasia, Middle East & Africa Projects Division” and “Abu Dhabi Projects Division.”
Each division will consist of a “Commericial Coordination Unit” and “Technical Unit.” In addition, the “Asia Projects Division” will also include the “Masela Unit” while the “Oceania Projects Division” will include the “Ichthys Unit.”
Finally, in order to focus on digitization as a means to reinforce the company’s competitiveness, the “Digital Transformation Unit” will be established within the “Technical Division.” In addition, the “Operated Projects Support Unit,” “Technical Support Unit” and “Well Engineering Unit” will be established to strengthen technical support functions assisting project operations.
In order to further reinforce legal support functions assisting business operations in Japan and around the world, the “Legal Unit” will be repositioned as a standalone unit reporting directly to the President & CEO.
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