AWE looking for new CEO as Bruce Clement prepares to step down

SYDNEY, Australia -- Bruce Clement, managing director and CEO of AWE Ltd., will step down during 2016 after five and a half years in the role. The company has commenced a search for a new CEO.

AWE Chairman, Bruce Phillips, paid tribute to Clement for his leadership in reshaping the company into a more diversified oil and gas producer with a strong portfolio of producing assets and exciting growth projects, including Waitsia gas field in Western Australia, widely acknowledged as the largest onshore gas discovery in Australia for 30 years.

“Bruce has presided over a period of significant change for AWE," Phillips said. "He has delivered a substantial increase in reserves and resources through a combination of astute asset management, such as the purchase and sell down of the Ande Ande Lumut oil project in Indonesia, exploration success in the onshore Perth basin in Western Australia, and the significant increase of reserves and production at Sugarloaf in the USA.”

“One of Bruce’s major achievements, and a lasting legacy, has been rebuilding the company’s 2P reserves to production ratio which now stands at 22 years at current production rates, easily the best among our peers," Phillips added. “The anticipated first gas production from Waitsia field in mid-2016 provides an opportune time to institute a succession of leadership."