Tullow Kenya has appointed its Asset Director, Madhan Srinivasan the new managing director with immediate effect following the exit of Martin Mbogo.
The oil and gas exploration firm announced on Thursday that its current Managing Director Martin Mbogo will be leaving the company at the end of his contract on 31st December 2020.
The axing of Mbogo now sets the stage for staff restructuring announced in early February this year.
“We sincerely thank Martin for his contributions and achievements for Tullow and the Kenyan Oil & Gas sector in a challenging environment. His passionate advocacy of Local Content and the localisation of staff and contractors has set an example of what can be achieved by companies that take their obligations to host nations and communities seriously,’’ Tullow Oil plc CEO Rahul Dhir said.
According to the statement Tullow has embarked reorganisation of its operations in Nairobi and London as part of wider global changes to the group and the recent extension of its licence in Kenya.
“These changes will allow Tullow to work effectively with its Joint Venture Partners on its previously announced comprehensive review of the Project Oil Kenya development concept to ensure that it will be robust at low oil prices,” the firm said.
Commenting on Project Oil Kenya following his appointment, Madhan added, “This is a project and a resource of scale that can and will have a major social and economic impact in Kenya when it is developed, and I look forward to building on the work that Martin has done over the past decade,”
Tullow says it will now begin trimming down its Kenyan workforce over the coming months after the work program required to deliver the comprehensive review is compiled.
“Because there will be very limited activity in the field and the Group will be sharing resources with its Joint Venture Partners, the team will be considerably smaller although the final headcount is yet to be confirmed,” Tullow said.
Tullow Kenya issued a memo to staff in February this year about the impending layoffs owing to high wage bill and tough operating environment.
At least a third of Tullow Kenya workforce across all levels and cadres are expected to leave the company, the firm warned early this year
