With current CFO stepping down, Carnarvon promotes from within to fill the role

Australian oil and gas company Carnarvon Energy has picked a new Chief Financial Officer (CFO), after its current one decided to resign.  

Carnarvon Energy announced on Friday, 3 March 2023, the appointment of Alex Doering to the CFO role, effective from 1 June 2023. Doering’s appointment follows the decision of incumbent CFO, Thomson Naude, to depart Carnarvon in mid-2023 after 13 years of service.

Thomson Naude, Departing Carnarvon CFO, remarked: “I am pleased to be leaving Carnarvon in such a strong position. Together with securing the partial Bedout divestment with CPC Corporation, Taiwan, and with a strong level of interest from traditional lenders and alternative funding sources for the Dorado development, the business is in excellent financial shape. I look forward to remaining a close friend and strong supporter of Carnarvon into the future.”

The Australian oil and gas player explains that Doering, who has been with the firm for over ten years, is the current Financial Controller, as well as being Joint Company Secretary. Doering is a qualified Chartered Accountant, an Associate of the Governance Institute of Australia and has a Graduate Diploma in Corporate Finance.

Adrian Cook, Carnarvon Managing Director and CEO, commented: “I would like to welcome Alex to the role of CFO. He has amply demonstrated his ability to undertake this role over the past few years and it is exciting to see the next phase of his career progression within the business.

“On behalf of the entire Carnarvon team, my gratitude goes to Thomson for his excellent record of service to the business over the past 13 years. He leaves Carnarvon with great financial strength and well equipped to meet its funding requirements upon targeted FID of the Dorado development.”

Regarding Carnarvon Energy’s recent activities, it is worth noting that the firm entered into a binding agreement in February 2023 to divest a partial stake in its Bedout assets, including the Dorado field, to OPIC Australia Pty Limited, a wholly owned subsidiary of CPC Corporation, Taiwan (CPC), Taiwan’s national oil and gas company.

This came after Santos received acceptance from the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) of the Offshore Project Proposal (OPP) relating to its operated Dorado oil development off Australia.