COO Higgs Swaps Ophir for Genel

Genel Energy has replaced chief operating officer Paul Schofield with Bill Higgs with effect from November 6, the company said October 13. 

Higgs has nearly 30 years of global exploration, development and operations experience, working as COO of explorer Ophir, whose global assets he managed until he left in July. He is a qualified geologist with extensive expertise in all engineering and other technical and commercial aspects of hydrocarbon development and production, Genel said. 

Before joining Ophir he was CEO of Mediterranean Oil and Gas, overseeing the successful sale of the company in 2014. He previously spent 23 years at Chevron across a number of global roles, including responsibility for reservoir management of the giant Tengiz oil and sour gas field in Kazakhstan.

Genel CEO Murat Ozgul thanked Schofield and said he looked forward to working with Higgs as "we continue to maximise the value of our assets in the Kurdistan Region of Iraq."

Their value has been elusive so far as the oil reserves have been downgraded; the KRG government in Erbil owes some $500mn for oil deliveries pre-2015; senior executives have quit for various reasons; and there is no final investment decision on the Miran gas field that would export gas to Turkey. 

Ophir by contrast is pushing ahead with its Fortuna LNG project, aiming to take the final investment decision this year. In July it said it would have to make 15% of its workforce redundant owing to harsh trading conditions. Most were corporate roles in London, and Higgs' departure was reported then.

Genel's incoming COO Bill Higgs (Photo credit: Oil and Gas Council)

William Powell