The executive team, or Excom as Santos has labelled it, will include six executives and Gallagher said their appointment was a key step in establishing a new operating model focused on lifting productivity and driving long-term value for shareholders amid low oil prices.

“The new model involves a move away from geographic based business units to an asset focused model with strong technical capabilities in our primary business of exploration, development and production of oil and natural gas both onshore and offshore,” Gallagher said.

“The