Beach to Increase Employee Count amid Ambitious Growth Phase

Australian oil and gas producer Beach Energy said Friday that it will boost the  number of workers it employs to 180 people in its 2013 financial year (FY) – which ends in June next year – up from 131 employees a year ago, amid the company's aggressive growth phase in the onshore conventional Cooper Basin.

Chairman Glenn Davis noted in his address that Beach's employees are relatively young; 70 percent of its workforce is under 50 years of age. Detailing the company's employment strategy, Davis said that Beach's goal is to maintain a young workforce backed by the skills and knowledge of experienced people. Davis also added that Beach is keen to grow both the involvement of women and indigenous people in the industry.

One People HR's co-founder Kevin Chandler had noted earlier in July this year at a gas technology conference in Perth that indigenous workers in Australia represent a talent pool that is "sadly overlooked by many companies."

"We continue to support growing involvement of women in the resources industry. We continue to look for employment in indigenous people," Davis said in a statement.

Beach also revealed that the company will spend a record $426 million (AUD 410 million) to drill more than 100 wells in the Cooper Basin to identify more gas reserves.

Explaining Beach's growth strategy, Davis explained that the company aims to continue its focus in the conventional Cooper Basin, further develop its unconventional assets, and bring forward as quickly as "reasonably possible" its exploration and development activities in Tanzania, Egypt and Romania.

The company also disclosed that it is already negotiating for the sale of a "significant" position in the Cooper Basin.

"Suffice to say that there is already strong competition for gas from both liquefied natural gas and domestic customers," the company's Managing Director Reg Nelson said.

Australia is at present home to seven world-scale LNG projects under construction; Gorgon, Prelude, Wheatstone and Ichthys in Western Australia, and Queensland Curtis LNG (QCLNG), Gladstone LNG (GLNG) and Australia Pacific LNG (APLNG) in Queensland.

Beach's current 2P reserves, proven and probable, stands at 93 million barrels of oil equivalent (MMboe). The company's combined 2P and 2C reserves, which include contingent resources, stands at 559 MMboe. 


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