Dr. Micheal Hession has joined The Woodlands, TX-based InterOil Corp. (NYSE: IOC) as CEO, effective July 11.
Hession succeeds founder and former CEO Phil Mulacek, who resigned from the position in April.
Dr. Hession has over 25 years of international exploration, operation and commercial experience, most recently as a senior vice president at Browse LNG Development, a division of Woodside Energy Ltd. During his twelve-year career at Woodside, he held several high-profile roles related to the Pluto LNG Mega-Project and exploration and development of assets in North Africa and North America.
Dr. Hession began his career at BP International. His last position at the company was Development Manager on the Chirag Azeri Mega-Project. Prior to that, he managed exploration projects in Indonesia, the United States and Norway.
A citizen of Australia and Ireland, Dr. Hession was educated in Britain and France, earning his Doctorate in Geophysics from the University College Wales and his Bachelor’s degree in Geology from the University of Hull (UK). He also has an MBA from the London School of Economics and HEC (Paris, France).
“InterOil is at an inflection point in its history, and I expect that it will start to realize the value that it has carefully built over the past sixteen years. The certified resource at the Elk and Antelope fields is sufficient for a multi-train development which could include the PNG LNG facility, and/or an LNG facility in the Gulf Province. The monetization of PRL 15 is anticipated to be a transformational event for InterOil. The interest in energy development in PNG has never been greater and we expect to bring in additional partners to accelerate our activities,” Hession said in a statement.
InterOil Corp. is developing a vertically integrated energy business whose primary focus is Papua New Guinea and the surrounding region. InterOil’s assets consist of petroleum licenses covering about 3.9 million acres, an oil refinery, and retail and commercial distribution facilities, all located in Papua New Guinea. In addition, InterOil is a shareholder in a joint venture established to construct an LNG plant in Papua New Guinea. InterOil’s common shares trade on the NYSE in US dollars.