Carnarvon has restructured its board of directors, refined its strategic objectives and committed to preserve its strong balance sheet.
Carnarvon Energy has seen its executive team reshuffled, with the appointment of Russell Delroy and Will Barker as non-executive directors, and the retirement of long-time managing director and chief executive officer (CEO) Adrian Cook, Peter Moore and Debra Bakker.
Last but not least, the amalgamation of CEO and chief operating officer (COO) roles, with the promotion of Philip Huizenga to CEO.
“I would like to thank Adrian, Peter and Debra for their dedicated service and guidance to the company over these past years,” Huizenga said.
“Much of the credit for the platform afforded to me as the new CEO of Carnarvon is due to these individuals.”
Huizenga said that the new board and management team were aligned on the company’s refined strategic priorities, and driving this strategy forward as the company seeked to unlock the significant inherent value of the Dorado and Pavo fields and broader Bedout Sub-basin.
“I am extremely excited to take on the role of CEO, and committed to leading Carnarvon through the next phase of its life and growing shareholder value,” Huizenga said.
“Due to the strength of its balance sheet, Carnarvon has a unrivalled platform from which to deliver value from the largest undeveloped oil field in Australia.”
Following the board changes, the reconstituted board and management team have refined Carnarvon’s strategic objectives with a commitment to the specific priorities including, preserving existing balance sheet strength, significantly reducing the corporate and administrative cost base and maximising value from the existing asset base.