Oslo-listed oil and gas exploration and production (E&P) player BW Energy has appointed a new Chief Financial Officer (CFO) to replace the current one after five years of tenure.
The Norwegian player shared that Brice Morlot would replace Knut R. Sæthre, who has been the CFO of BW Energy since 2019, starting June 30, 2024. Following a transitional period working with Sæthre to learn the ropes, Morlot will be based in the firm’s office in Lisbon, Portugal.
The firm’s CEO, Carl K. Arnet , noted: “We look forward to Brice joining the BW Energy team as we deliver on our strategy for growth and value creation with producing fields and highly attractive development assets in Gabon, Brazil and Namibia.”
Morlot previously held the position of Managing Director of Assala Energy in Gabon, preceded by other senior roles at Assala, SCOR, and Perenco . The Norwegian firm describes his experience as a combination of solid financial understanding with an operational background in the E&P business.
Thanking BW Energy for his time at the company, the outgoing CFO said: “It has been a rewarding experience to be part of the journey, and I am immensely proud of our collective achievements. I have full confidence in Mr. Morlot’s ability to excel in his new role, given his extensive business knowledge.”
Arnet reflected on Sæthre’s career at the company by pointing out: “I have had the privilege of collaborating with Knut for close to 20 years across several businesses from APL, via BW Offshore and now most recently at BW Energy. His period as CFO has been marked by exemplary financial acumen and leadership. His contributions have been pivotal in positioning BW Energy for sustained success.”
Aside from management changes, the firm has been busy with multi-well operations in Gabon lately, making a “substantial” oil discovery at a pilot appraisal well within the Dussafu license last week.
The pilot well was drilled from the MaBoMo production platform, for which the firm signed a sale and lease back agreement with Minsheng Financial Leasing Co (MSFL) in late April.