Offshore staff
ADELAIDE, South Australia — Beach Energy is undertaking a comprehensive strategic review, which includes a new asset-based organizational structure to be implemented by April 8.
Several of the current executive team will be leaving Beach over the coming months. New executive leadership appointments are underway and will be announced once all positions have been confirmed. Beach reported that further outcomes from the strategic review will be announced over the next few months.
In addition, "to achieve efficiency and operational cost improvements," the Australia-based company is targeting a headcount reduction of 30%.
Managing Director and CEO Brett Woods said, “Our new organizational structure will bring sharpened focus on our core assets as we strive to become a dominant supplier of gas into Australia’s East Coast and West Coast markets. It is imperative that Beach regains its status as a safe and efficient, low-cost operator by achieving structural reductions in operating costs and sustaining capital expenditure, including the announced reduction in headcount. Decisions about headcount reductions are not made lightly as we are highly cognizant of the personal impact organizational change can have on individuals and their families. To minimize the personal impact, we arecommitted to implementing the new structure as soon as possible."
Woods was appointed managing director and CEO last month.
Beach Energy is a supplier to Australia’s East Coast gas market, operating the Otway Gas Plant and the Lang Lang Gas Plant in Victoria.
03.29.2024
