Australia’s energy giant Woodside has unveiled a revised leadership structure to streamline the delivery of the next phase of its energy transition strategy and reap the benefits of the low-carbon shift.
The firm believes that the new structure, scheduled to take effect on August 1, 2024, will simplify its core business activities thanks to a new operating model.
Woodside’s CEO Meg O’Neill described the change as an expansion of the operating model introduced after the merger with BHP’s oil and gas portfolio in 2022, supporting the optimization of its core business, while leaving room for future growth.
O’Neill noted: “We are fully integrating Woodside’s traditional and new energy business across our value chain to support ongoing delivery of the affordable, reliable and lower-carbon energy our customers need for the energy transition.
“We are also consolidating operations and project delivery in a regional model to drive a strong focus on safety, efficient decision making, and effective business execution. Our new executive team balances continuity with change, adding new capabilities and streamlining accountabilities.”
Under the revised leadership structure all project execution and operational activities are anticipated to be handled by two regional Executive Vice Presidents (EVP) & Chief Operating Officers (COO). Liz Westcott is to oversee the Australian business in this capacity, and Daniel Kalms the firm’s international portfolio. Additionally, Graham Tiver is slated to become the Chief Financial Officer (CFO).
New EVP & Chief Commercial Officer roles are expected to bring traditional and new energy growth and opportunity capture segments under one roof, including exploration and mergers and acquisitions (M&A) to be filled by Mark Abbotsford .
The new EVP Technical & Energy Development, Julie Fallon , is foreseen to be in charge of traditional and new energy technical and project development activities. Elevating corporate strategy activities will be brought under a single EVP role, undertaken by Andy Drummond .
Finally, establishing dedicated Executive Leadership Team (ELT) roles is envisaged for Human Resources, Legal & Group General Counsel, and External Affairs. These will be filled by Ruth Lyall , Rebecca McNicol , and Tony Cudmore , respectively.
Alongside management reshuffle, the Australian major has been busy at home and abroad. After the FPSO Léopold Sédar Senghor reached Senegal in February, the Sangomar field , the country’s first offshore development operated by Woodside, started production earlier this month.
The firm also sought and received clearance for decommissioning activities within the Stybarrow field off the coast of Western Australia. The environmental plan for these operations entails removing subsea infrastructure, continuing field management of subsea infrastructure, and removing wellheads within production license WA-32-L.