The hunt is underway for a £200,000-a-year oil boss to transform the way the North Sea is run.
The UK Government’s new Oil and Gas Authority, which is being set up on the back of Sir Ian Wood’s review of the industry, has appointed headhunters Odgers to find its new chief executive.
The new regulator will focus on securing the maximum amount of economically recoverable oil from UK waters and also spearhead a new era of collaboration between government, the Treasury and the energy sector.
Unlike the existing body, the Department for Energy and Climate Change (DECC), Sir Ian wants the new regulator to be given additional powers to ensure that all licence holders act in a way that is consistent with maximising recovery.
That includes increased collaboration between companies, particularly around access to infrastructure, and improved data sharing.
The new body will be set-up over the next few months, shaped by the new man or woman at the helm. Nobody has publicly declared their interest in the post, and Sir Ian has already ruled himself out, saying he has played his part in the process.
However, there are number of key industry figures who are currently – or are about to be – out of work.
Premier Oil chief executive Simon Lockett (bottom left) is stepping down from his post after almost a decade at the helm.
Lockett, 49, joined Premier from Shell in 1994, taking on the role of chief executive in June a decade later. He has agreed to remain in the role until a replacement has been found.
Another Shell veteran, Chris Finlayson (top right) is also on the lookout for a new job after leaving BG Group earlier this year.
Finlayson presided over a succession of profit warnings and a 37% slump in annual profits during a year blighted by problems in Egypt for BG.
Centrica chief Sam Laidlaw (top left) whose departure from the owner of Scottish Gas is expected to be announced within weeks, is also believed to be looking for a new challenge.
Laidlaw, who has been Centrica’s chief executive since 2006, had been linked with the BG role, but has recently dismissed the speculation.
Another man who departed his job suddenly this year is former Talisman Sinopec UK boss Geoff Holmes (bottom right).
The 46-year-old was replaced by Paul Warwick, Talisman’s Executive Vice President Europe-Atlantic, “with immediate effect” last month.
Oil and Gas UK chief executive Malcolm Webb said the new body requires the “best of the best”.
“It’s a big job and it demands a big person. It needs someone with credibility in the industry, they’ve got to have a good, strong track record.
“This has to be an industry person. They’ve got to have the experience and enough tread left in their tyres. It will be a fantastic job for somebody.”
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