Ophir: COO to step down

British oil and gas explorer Ophir Energy’s Chief Operating Officer William Higgs will step down as the company reduces costs by cutting staff positions at its London headquarters, the company said on Friday.

Energy companies have cut costs over the past few years due to a fall in oil prices. Ophir has faced further challenges in launching its Fortuna project in Equatorial Guinea – Africa’s first deepwater floating liquefaction facility.

“The company has no plans to appoint another chief operating officer or executive director (and) a further announcement will be made shortly,” Ophir said in a brief statement after markets closed on Friday.

A spokesperson for the company, which has projects in Africa and East Asia, declined to say when Higgs would leave the company and what other staff cuts were being made. 

Higgs, who did not immediately respond to a request for comment via LinkedIn, was appointed COO in 2014, having previously worked for Chevron Corp.

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