As Oil Search shareholders prepare to log on for its virtual annual general meeting on Friday, some of the energy producer’s most experienced oil and gas workers have tapped out for the last time.
The Papua New Guinea-focused LNG producer disclosed in late March about 100 staff had been cut from its Sydney office in reaction to the biggest oil rout in a generation.
It has emerged the departures include a raft of long-serving staff including Dave Holland, a former InterOil exploration boss credited with discovering the giant Elk-Antelope gas field in PNG, also part owned by Oil Search. Mr Holland then joined Oil Search’s exploration team after ExxonMobil paid $US2.5bn to buy InterOil in 2017.
Oil Search’s senior vice-president international, Nigel Wilson, has also left after first joining the company in 2002. As too did 22-year company veteran Mark Wilson, who departed after a varied career that included oversight of domestic LNG at its NiuPower subsidiary.
Marcus Parrish, who joined Oil Search in 1998, is understood to have left his role as a senior geoscience adviser.
Depite the axings, some shareholders are asking whether more staff cuts need to be made.
Additional reporting: Perry Williams
Sims could reap windfall from land sales
Some in the market believe that Sims needs to put some more thought towards selling more assets.
Bids due for BGC building materials empire
The contest is well under way for parties to buy the $800m BGC building materials business based in Perth.