In line with AWE Ltd.’s succession planning strategy, the company’s managing director and CEO, Bruce Clement, will step down in 2016 after five and a half years in the role. The company has begun a search for a new CEO.
AWE Chairman Bruce Phillips paid tribute to Clement for his leadership in reshaping the company into a more diversified oil and gas producer with a portfolio of producing assets and growth projects, including the Waitsia gas field in Western Australia, one of the largest onshore gas discoveries in Australia for 30 years. Phillips noted that Clement also presided over the purchase and sell down of the Ande Ande Lumut oil project in Indonesia, exploration in the onshore Perth Basin in Western Australia, and an increase of reserves and production at Sugarloaf in the US, among other projects.
Until he steps down, Clement will continue as managing director and CEO, with the support of the board. His main focus will be to drive the development of AWE’s onshore gas projects in Western Australia, and to lead the implementation of the company’s strategy to address the impact of the fall in global oil prices to ensure that AWE can continue to advance its growth projects in a lower oil price environment.