Karoon Energy Ltd (KAR), an international oil and gas exploration and production company with assets in Brazil, the United States of America and Australia, has announced that its Chief Executive Officer and Managing Director, Dr. Julian Fowles, will leave the company by mid-2026. This decision follows the company’s strategic move to relocate key corporate teams and roles to Brazil and the United States, as discussed at the 2025 Annual General Meeting.
The Karoon Board, supported by an international search firm, has initiated a global search for a Houston-based CEO/MD to succeed Dr. Fowles. To ensure a seamless transition, Dr. Fowles will remain in his current role until either a new CEO/MD is appointed or the end of 2025, whichever comes first. Following this, he will serve a notice period until mid-2026, remaining available to provide continuity if needed.
Karoon’s Chair, Mr. Peter Botten, expressed gratitude for Dr. Fowles’ contributions over the past five years. He highlighted Dr. Fowles’ role in developing and executing Karoon’s 2021 Strategic Plan, which included the Baúna intervention campaign, development of the Patola field, and the acquisition of the Who Dat asset. Mr. Botten stated the relocation of corporate teams aims to increase efficiency and collaboration between business units in Brazil and the USA, while also allowing the company to source high-quality local talent.
Dr. Fowles reflected positively on his tenure, noting the company’s transformation into a low-cost production and development entity. He thanked the staff, joint venture partners, and contractors for their support, emphasising the company’s strong culture and values. He affirmed his commitment to ensuring a smooth transition to the new CEO/MD and continuing to progress growth opportunities throughout the remainder of 2025.
