FAR LtdFAR welcomes Tim Woodall to new role as executive director, commercial
Among the responsibilities are management of SNE Field development financing, commercial evaluation, M&A and business development.
FAR Ltd (ASX:FAR) has welcomed Tim Woodall to a new role with the company as executive director, commercial, effective on September 1.
Woodall was appointed as a non-executive director of FAR Limited on August 1, 2017, and has been consulting to the board under a special director arrangement for 18 months.
His role has been to advise on financing for the forthcoming SNE Field development offshore Senegal, for which FAR, along with joint venture partners, anticipates reaching a final investment decision by the end of the year.
FAR’s managing director Cath Norman said, “Together with Nic Limb, our chairman, and the board of FAR, we wholeheartedly welcome Tim to this new, executive role.”
He will report to the managing director in his executive role which takes responsibility for the management of SNE Field development financing, commercial evaluation, merger & acquisitions, business development, business reporting and co-ordination of farm-outs and corporate relationships.
30 years of experience
Woodall brings more than 30 years’ experience in the financial sector with a focus on the oil and gas industry.
Given FAR’s progression to becoming a 14,000 bbl/day producer in 2022 and the commercial challenges faced with the forecast growth, Woodall is expected to be a valuable addition to the executive team.
Norman said, “Tim has made a terrific contribution to FAR as a non-executive director and more recently, has been instrumental in helping to position FAR to be fully financed for the forthcoming SNE Field development.
“Our company is planning to grow from a 14,000 bbl/day net producer of oil from SNE to a 20,000 bbl/day producer when the SNE field is in full production.
“Tim will join our management team at a time when the company is reshaping for a strong period of growth underpinned by our world-class oil field in Senegal and bolstered by wells to be drilled in both The Gambia, where FAR is operator, and also in Guinea Bissau in the first half of 2020.”
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Apr '19May '19Jun '19Jul '19Aug '19Sep '19Oct …0.060.070.080.09032MZoom1m3m6m1yFromMar 30, 2019ToSep 30, 2019Highcharts.comMonday, May 6, 2019● Share price: 0.066● Volume: 18 588 042
Ann: Executive director appointment, page-185
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