Australian oil and gas company Karoon Energy has this week named Ray Church as Executive Vice President and Chief Financial Officer.
Church will start with Karoon on September 27. 2021. Current Chief Financial Officer, Scott Hosking, will oversee the preparation of Karoon’s
financial statements for the year ended June 30, 2021, and will step down from his role after a period of handover with Church.
Previously, Church was the Chief Financial Officer at UGL Limited. He has almost two decades of oil and gas experience, having previously worked as the Vice President, Finance at TNK‐BP and in a variety of senior finance and commercial roles at Chevron Corporation.
Karoon Chief Executive Officer and Managing Director, Dr Julian Fowles welcomed Church, and thanked Hosking "for his many years of dedicated service to the establishment and successful growth of Karoon and for his commitment to the transition of the company from exploration to production and development.”
Ray Church said, “I am passionate about the upstream oil and gas industry and excited about working with Julian and the team to further develop Karoon’s financial capabilities and funding strategies, and to help drive business performance and value growth.”
Karoon last year completed the acquisition of a 100% operating interest in the BM-S-40 offshore concession in Brazil from Petrobras. The offshore block in the Santos Basin contains the producing Baúna oil field and undeveloped Patola discovery, where it expects to start production in the first quarter of the calendar year 2023.
The company in December 2020 offloaded its first oil cargo from the Bauna, with the shipment produced by the FPSO Cidade de Itajaí amounting to over 500,000 barrels of oil.