UK-headquartered oil and gas company Tullow Oil has appointed its interim Chief Financial Officer (CFO) to the CFO role, effective from 1 January 2023.
While announcing the appointment of Richard Miller , its current Interim CFO and Group Financial Controller, as its new CFO and Executive Director, Tullow Oil explained on Thursday that Miller would bring “extensive oil and gas and financial experience to the role.”
Miller, who has been acting as Interim CFO since April 2022 , has been with Tullow for over 11 years. During that time, he led the Tullow Finance team, supporting a number of acquisitions, disposals and capital markets transactions.
Rahul Dhir , Chief Executive Officer, Tullow Oil, remarked: “Richard has made a significant contribution to Tullow in his tenure and particularly during the last year as interim CFO. He has helped drive cost discipline and capital efficiency alongside improvements in our broader finance function. He has the right mix of sector and finance experience and I am looking forward to working with Richard as we build a leading African oil & gas company.”
As highlighted by Tullow, Miller played “a significant role” in the firm’s continued turnaround with the successful rebasing of its cost structure, the resetting of the balance sheet and the change to a more focused capital allocation. Miller, a chartered accountant, joined Tullow from Ernst and Young LLP where he worked in the audit and assurance practice.
Phuthuma Nhleko , Chairman of Tullow Oil, commented: “I would like to warmly welcome Richard to the board and look forward to working with him and Rahul in the years ahead.”
Regarding Tullow’s recent activities, it is worth noting that the firm recently disclosed plans to drill four new wells at a field located offshore Ghana.
These wells are expected to be brought on stream next year.