Oil Search Managing Director Keiran Wulff resigns

 OIL Search managing director Keiran Wulff has resigned after taking charge for 17 months due to complaints about his behaviour and ill health.

Keiran Wulff

Dr Wulff has been managing a long-term medical condition which has recently deteriorated.

Oil Search chairman Rick Lee said the board entered into discussions with Dr Wulff following the receipt of recent concerns and complaints about him.

Lee said the board considered that Dr Wulff had behaved in a manner inconsistent with the standards expected by the board in relation to his management style.

Lee said the board acknowledged the magnitude of tasks undertaken by Dr Wulff since his appointment as managing director last February and recognised the challenges that his recent health issues have had on him. “This period has been marked by extreme challenges including global lockdowns associated with the Covid-19 pandemic, a plunge in oil prices, crisis measures to protect the company’s financial position and developing a clear strategy to steer a path to a sustainable future through the energy transition.

“It is a tribute to all staff that Oil Search is now in a solid position with record levels of production in PNG, a strengthened balance sheet and our Alaskan development plans meeting milestone targets.”

Dr Wulff thanked all Oil Search staff for their efforts, particularly since the pandemic began, as the company put in place strategies to safeguard its operations in PNG and Alaska.

“It has been a great privilege to work at Oil Search and I believe the company is very well-positioned for the future.

“It has however, become apparent to me that due to my health challenges, it is becoming increasingly difficult for me to perform at the level required of the position,” he said. Peter Fredricson, who joined the company earlier this year as chief financial officer, has agreed to become acting chief executive officer with immediate effect.

A search for a permanent managing director/CEO including interviews with internal and external candidates will begin shortly.

Lee said the board looked forward to working with Fredricson to ensure that production projects in PNG and development initiatives in both PNG and Alaska remained on track and on budget.


Next : Kapi-Natto Appalled at PNGi's inaccurate and Misleading Report on Petroleum Resources Kutubu

Previous Post Next Post