BHP Billiton have made changes to its Group Management Committee that will allow the giant miner’s oil and gas chief, Tim Cutt, to focus exclusively on the petroleum pillar of the business.
BHP Billiton Chief Executive Andrew Mackenzie announced the changes June 30, revealing that Dean Dalla Valle, currently president of health, safety, environment (HSE), marketing and technology, will become chief commercial officer, assuming accountability for potash, but will retain his existing areas of HSE, marketing and information technology.
Mackenzie said Cutt’s title will become president, petroleum, effective July 1, and the changes will allow him to focus on growing the value of the company’s petroleum business.
“These portfolio changes recognize the depth of skill and ongoing contribution of both Dean and Tim to BHP Billiton,” Mackenzie said.
Two additional GMC changes see Athalie Williams, currently president, human resources, taking on the title of chief people officer and Tony Cudmore, president, corporate affairs, becoming chief public affairs officer.
The changes come as BHP’s annual outlay in onshore U.S. assets had dropped from a projected US$4 billion this financial year to $3.4 billion with a further decrease toS$1.5 billion expected for 2015-2016.
BHP’s production for this year is targeted at 255 MMboe.
During the APPEA Conference in May, Cutt said BHP’s liquids-rich assets were still delivering favorable returns even at $50-$60/bbl oil prices.
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