Roc thinking strategy

Roc’s appointment of Bruce Clement to the newly created position of chief operating officer could be more of a case of "watch this space" than of a promotion.

Mr Clement, the company’s chief financial officer is one of four long-term senior decision makers at the Sydney-based company which operates two prized oil exploration permits off Dongara’s coast. His promotion from chief financial officer to COO is to allow chief executive officer John Doran to devote more time to forward strategy than to the day-to-day functions of the business.

Dr Doran, Mr Clement, general manager exploration Wes Jamieson and general manager Kevin Hird have been together at Roc since 1996-97.

While the company had interviewed externally for a COO, it ultimately decided to keep Mr Clement part of the most senior team going forward, and to make a supplementary appointment of general manager finance. Mr Clement has been in the oil and banking industries for more than two decades.

His experience includes planning, design and project engineering, and management for offshore oil field developments while an engineer with Esso Australia.

Roc, which has producing assets in the UK, and which is expected to announce an initial contract for the development of the Cliff Head oil field near Dongara sometime between July and September this year, is about to "move up to the next level,” Dr Doran said.

"There will be lots of work coming up, and you can’t have everyone looking at the nuts and bolts of the business," he said.

"I’ll be doing less clearing of emails and more thinking and acting on strategic matters. It will involve more travel on business."