WOODSIDE Petroleum has lost another of its senior managers as the fallout from its decision to axe the $45 billion-plus James Price Point liquefied natural gas development continues.
According to a copy of an internal Woodside email obtained by The Australian, Michael Hession -- the senior vice-president responsible for the Browse project -- has quit Woodside to pursue other opportunities.
Hession had been with Woodside since 1999, with his roles in the company including stints running its North African and North American exploration strategy.
His departure, less than a month after the plan to process gas from the Browse gasfields through James Price Point was abandoned, came as Woodside announced it would absorb its Browse business unit into its development division.
That move is likely to see many of the Browse personnel directed to work on Woodside's plans for an LNG plant in Israel, following the company's decision late last year to buy a 30 per cent stake in the Leviathan gasfield.
Other oil and gas companies in Perth have been eyeing Woodside as a source for personnel since the James Price Point decision was confirmed. While Woodside has no immediate plans for redundancies following the Browse decision, rival companies believe the company's lack of near-term development projects and its recent decision to substantially increase its dividend returns could encourage Woodside personnel to seek opportunities elsewhere.
Woodside chief executive Peter Coleman said in the email that Hession's decision to leave the company "was consistent with a decision he made some time ago to consider the next phase of his life when the opportunity was right".
"Michael provided outstanding leadership during a key phase of the Browse development. The work that Michael has overseen was first-class in all respects, and will be very valuable as we move to the next phase," Coleman said.
Hession's role will be filled by Steve Rogers, the current head of Woodside's Sunrise project, which is stalled in a dispute with the government of East Timor.
Santos recently recruited the Browse project's lead development geologist, Richard Osbon, to head up the company's geoscience team, which is based in Perth.
'Tree' pid='22017' datel Wrote:
WOODSIDE Petroleum has lost another of its senior managers as the fallout from its decision to axe the $45 billion-plus James Price Point liquefied natural gas development continues.
According to a copy of an internal Woodside email obtained by The Australian, Michael Hession -- the senior vice-president responsible for the Browse project -- has quit Woodside to pursue other opportunities.
Hession had been with Woodside since 1999, with his roles in the company including stints running its North African and North American exploration strategy.
His departure, less than a month after the plan to process gas from the Browse gasfields through James Price Point was abandoned, came as Woodside announced it would absorb its Browse business unit into its development division.
That move is likely to see many of the Browse personnel directed to work on Woodside's plans for an LNG plant in Israel, following the company's decision late last year to buy a 30 per cent stake in the Leviathan gasfield.
Other oil and gas companies in Perth have been eyeing Woodside as a source for personnel since the James Price Point decision was confirmed. While Woodside has no immediate plans for redundancies following the Browse decision, rival companies believe the company's lack of near-term development projects and its recent decision to substantially increase its dividend returns could encourage Woodside personnel to seek opportunities elsewhere.
Woodside chief executive Peter Coleman said in the email that Hession's decision to leave the company "was consistent with a decision he made some time ago to consider the next phase of his life when the opportunity was right".
"Michael provided outstanding leadership during a key phase of the Browse development. The work that Michael has overseen was first-class in all respects, and will be very valuable as we move to the next phase," Coleman said.
Hession's role will be filled by Steve Rogers, the current head of Woodside's Sunrise project, which is stalled in a dispute with the government of East Timor.
Santos recently recruited the Browse project's lead development geologist, Richard Osbon, to head up the company's geoscience team, which is based in Perth.
I don't have any edge on who the new CEO will be, but I've done extensive due diligence on Michael Hession in the past couple of weeks, including talking to long-time shareholders of Woodside. He is a legend, and he was perceived by many as the successor and number two to CEO Peter Coleman. If he truly is joining InterOil, it would be tremendous. I spoke to one large Australian fund, which isn't very familiar with InterOil, and they indicated they would buy shares in the company if Hession were at the helm. Having someone like him run InterOil would result in a completely different perception of the company by the industry.
