Perth, July 16, 2008 AEST (ABN Newswire) - Australian-based international oil and gas company Otto Energy (ASX:OEL)(PINK:OTTEF) is pleased to announce the appointment of Mr Richard King who joins the company as Commercial Manager on 28th July 2008.
Richard has 12 years experience in the energy sector including working at Duke Energy, Woodside and most recently as Upstream Commercial Manager and Domestic Gas Marketing Manager for the Gorgon LNG Project at Chevron. In his career at these companies he has held a wide range of senior commercial roles in gas marketing and commercial negotiations with respect to asset acquisitions and divestments, regulatory and government affairs, such as Production Sharing Contract (PSC) terms.
At Otto, he assumes responsibility for several key business functions including:
- Manage and optimise Otto's contracts, including Joint Operating Agreements, Service Contracts, rig contracts, etc;
- Negotiation of exploration and project agreements with farm in partners and economic and commercial evaluation of potential new ventures;
- Manage debt financing arrangements, oil and gas marketing; and
- Supply chain management.
Alex Parks, Otto's Chief Executive Officer said, "We are extremely pleased Richard is joining us as he brings a wealth of big company commercial experience to the management team at a time when Otto will be negotiating our Philippines farm outs with the mid-tier and major oil companies."
Contact
Media / investor enquiries:
Jill Thomas
+61 8 6467 8803
thomas@ottoenergy.com
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