Oil Search managing director Peter Botten will retire on August 25 next year after more than 25 years with the company.
Botten will be succeeded by Oil Search’s current executive vice president, Alaska and president of Oil Search Alaska, Keiran Wulff.
Oil Search chairperson Rick Lee said under Botten’s leadership, Oil Search grew from a small company to a regionally significant oil, gas and liquefied natural gas producer and exporter.
Lee said Botten, one of the ASX200’s longest serving chief executive officers, is recognised as a world leader in environmental, social governance and corporate social responsibility.
“The board is extremely appreciative of Peter’s dedicated service to Oil Search during the past 26 years,” Lee said.
“Peter has decided as Oil Search embarks on its next phase of growth, now is the right time to transition the leadership.”
Botten will remain managing director until February 25, 2020, but will remain employed with Oil Search until August, focussing primarily on LNG expansion projects.
To ensure a smooth transition, Wulff, who has more than 30 years’ experience in the international oil and gas industry, was appointed CEO designate on September 30, 2019.
Wulff was instrumental in Oil Search’s recent Alaska expansion, building a team of more than 150 and overseeing the company’s first successful drilling program.
He looks forward to continuing to deliver for Oil Search’s shareholders in an environmentally and socially responsible way.
“I am honoured to have been selected to take over from Peter, who has led Oil Search to be the extraordinary company it is today,” he said.
“Our world class Papua New Guinea production, LNG expansion opportunities and Alaskan oil development and growth portfolio provide an exciting future for our shareholders, staff and stakeholders.”
Botten will continue his association with Oil Search in his roles as chairperson of the Oil Search foundation and Hela Provincial Health Authority, and as a member of the Australia Papua New Guinea Business Council executive committee.
“It has been a tremendous privilege to lead Oil Search for the past 25 years,” he said.
“I am proud to have worked with so many outstanding individuals, who have delivered shareholder value and contributed so much to the social and economic development of Papua New Guinea, making a real positive impact to the lives of people in that country.
“I am confident (Kieran) has the necessary attributes to lead the company successfully on the next stage of its exciting long-term growth path.”