AWE Limited, an oil and gas company with assets in Australia and New Zealand, will replace its CEO Bruce Clement with David Biggs, who has resigned from the CEO position in Cue Energy Resources.
According to AWE, Clement, who was appointed as CEO in 2011, has been given six month’s notice of termination, as per his employment agreement.
The expected date of the end of Clement’s employment with AWE is September 2016, “or such earlier date agreed between Mr Clement and AWE.”
As for the new appointment, David Biggs will take over as the CEO in May. He has held the CEO position in Cue Energy for the past three years, and prior to that he spent almost two decades in BHP Billiton Petroleum.
Commenting on the appointment, AWE’s Chairman, Bruce Phillips, said: “David is a proven CEO with a good track record of delivering profitable outcomes for his companies.
“The AWE board believes his leadership skills, very strong gas marketing background, and deep knowledge of the energy industry in Australia, New Zealand and Indonesia will be beneficial in delivering AWE’s future strategy.”
Biggs, appointed CEO at Cue Energy in April 2013, refocused the business away from deep water offshore exploration to onshore activities. The New Zealander led the sale of Cue’s Papua New Guinea assets and focused the business on maximising value from its producing assets, with an increased focus on Indonesia.
Commenting on his new role, Biggs said: “I am delighted to take up this exciting opportunity. AWE has a quality, robust suite of assets, and there are significant opportunities to enhance and add further value to those assets going forward for the benefit of shareholders.”
Biggs’ resignation from Cue takes effect from April 15, 2016.
“The Board thanks him for his leadership over the last three years and wishes him well with his future endeavours. A replacement will be announced in due course,” Cue Energy Resources said in a statement.
Offshore Energy Today Staff