![EY Names Saulius Adomaitis to Lead Oil and Gas Business](/sites/default/files/styles/hart_news_article_image_640/public/image/2022/07/ey-names-saulius-adomaitis-lead-oil-and-gas-business.jpg?itok=WAy_TJ-w)
Saulius Adomaitis, who has 25 years experience in the sector and was most recently the EY Global Energy Enterprise Asset Management Lead, will lead a team of 10,000 employees in his new role. (Source: EY)
Big Four accounting firm Ernst & Young (EY) said on July 28 it had appointed Saulius Adomaitis as the new head of its oil and gas business, which will receive a $500 million boost to expand its focus on the energy transition.
Adomaitis will succeed EY veteran Andy Brogan who was promoted to head the company’s global energy and resources strategy division.
Adomaitis, who has 25 years experience in the sector and was most recently the EY Global Energy Enterprise Asset Management Lead, will lead a team of 10,000 employees in his new role.
The $500 million investment will go towards developing digital solutions to monitor and reduce the oil and gas sector’s carbon emissions as the world aims to sharply reduce greenhouse-gas emissions by 2050 and shift away from fossil fuels to renewables.
Recommended Reading
TotalEnergies to Sell Subsidiary for $259MM to Malaysian E&P
2024-06-14 - TotalEnergies is selling its subsidiary TotalEnergies EP (Brunei) BV, which owns interests and is the operator for a mature field offshore Brunei.
Solaris to Acquire Mobile Energy Rentals, Rename to Solaris Energy Infrastructure
2024-07-10 - Following the closing of its deal to acquire Mobile Energy Rentals, Solaris Oilfield Infrastructure will also be rebranding to Solaris Energy Infrastructure to more closely represent its expanded solutions offerings.
Come Together: California Resources, Aera Merge for Scale, Drilling Runway
2024-07-10 - California Resources Corp. closed an acquisition of Aera Energy to become California’s top oil and gas producer. Now, CRC President and CEO Francisco Leon wants to grow from a one-rig to an eight-rig drilling program—but faces stiff pushback from regulators and environmental advocates in the Golden State.
Blackstone Buys Enagás’ Tallgrass Stake for $1.1 Billion
2024-07-11 - Spain’s Enagás is selling its Tallgrass Energy interests to Blackstone Infrastructure Partners in exchange for some needed capital.
APA Closes Midland Basin, Eagle Ford Divestitures for $660 Million
2024-07-11 - APA Corp. and subsidiary Apache sold non-core assets in the Permian Basin and Eagle Ford Shale sooner than expected, and for less, as the company looks to reduce debt from its Callon Petroleum deal earlier this year.