Maersk Oil leaders appointed by Total to future roles

Gretchen Watkins CEO Maersk Oil

Gretchen Watkins, CEO Maersk Oil

Martin Rune Pedersen, COO Maersk Oil

Troels Albrechtsen, CTO Maersk Oil

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Maersk Oil leaders have been appointed by Total for the first management positions in the future business. The appointments are subject to successful deal closure and will not be effective before this. Closing is still expected during Q1 2018, pending regulatory approvals.

Martin Rune Pedersen, Chief Operating Officer in Maersk Oil will, following a successful closure, become Vice President of Total’s operations in Norway, Denmark & Netherlands. 

Troels Albrechtsen, Chief Technology Officer in Maersk Oil will be appointed Vice President for the Technical centre to be established in Copenhagen. The centre will be part of Total’s global technical organisation, supplementing the existing centres in Paris and Pau. 

“I am pleased to see Total’s continued commitment to maximise the full value of Maersk Oil’s operational and technical capabilities and the positioning of a strong Danish leadership team in their North Sea business,” says Claus V. Hemmingsen.

The appointments follow the decision by Gretchen Watkins, CEO of Maersk Oil, to pursue other career opportunities once Total’s acquisition of Maersk Oil successfully closes. Gretchen will continue to lead Maersk Oil until deal closure, leading the pre-integration process as the business moves towards new ownership.

“Gretchen has in her roles as CEO and prior to this, as Chief Operating Officer in Maersk Oil, played a decisive role in steering a transformation in Maersk Oil’s operational performance. I am glad that she will be here to continue leading successful and safe delivery of the business, placing Maersk Oil in the best position possible, until the deal closes,” says Claus V. Hemmingsen, Vice CEO of A.P. Moller – Maersk and CEO of the Energy division.

Gretchen Watkins joined Maersk Oil as Chief Operating Officer in January 2014 and has been CEO of Maersk Oil since October 2016.

“This has been a difficult decision for me. I couldn’t be prouder of the way Maersk Oil has successfully navigated what I believe will come to be judged as historically challenging conditions for the industry, emerging as a high performing business. I remain firmly committed to leading the safe and successful delivery of our business performance until deal closure, alongside overseeing a smooth pre-integration process, as we take the business into new ownership,” says Gretchen Watkins, CEO of Maersk Oil.

Biographical details

Gretchen Watkins, CEO, Maersk Oil

Gretchen Watkins was appointed to the role of CEO of Maersk Oil in October 2016 following more than two and a half years as Chief Operating Officer of the business. Gretchen has driven a transformation in operational performance, leading to improvements in safety, production efficiency and cost reduction. 

An experienced international leader, Gretchen has worked in the oil and gas industry for 27 years, joining Maersk Oil from Marathon Oil Corporation where she led North American and international production operations. Prior to this, she was Director General of BP Vietnam and China, Vice President of BP’s Natural Gas Liquids business in Canada and President of BP Netherlands.

Gretchen was a non-executive director of the FTSE-listed engineering business WS Atkins for two years until the sale of the company in July 2017, a past director of the Independent Petroleum Association of America and is a current Board Member of the American Chamber of Commerce in Denmark.

A US national and mechanical engineering graduate of Pennsylvania State University, Gretchen began her career with Amoco in the United States.

Martin Rune Pedersen, Chief Operating Officer, Maersk Oil

Martin Rune Pedersen was appointed to the role of Chief Operating Officer in October 2016, prior to which he held executive positions as Managing Director for Maersk Oil’s Operated Business Units in Denmark and the United Kingdom. Martin has been instrumental in leading transformation and operational performance improvement in both businesses.

Martin served as a Board member of Oil & Gas UK and Step Change in Safety, contributing to a successful pan-industry drive to improve offshore safety performance.   

He is a Danish national and an engineering graduate from the University of Aalborg. Martin was an Officer (Captain, reserves) in the Danish Army, and joined Maersk Oil in 1997.

Troels Albrechtsen, Chief Technology Officer, Maersk Oil

Troels Albrechtsen was appointed to the role of Chief Technology Officer seven years ago, prior to which he held multiple senior leadership positions in Maersk Oil’s offices in Denmark, the UK and Qatar. In addition, Troels has led Maersk Oil’s activities in West Africa and South America. 

An executive with more than 25 years of experience in the industry, Troels has been Chairman of Oil Gas Denmark since 2013. In that capacity he leads the industry’s engagement with Government Ministers and officials.

He is a Danish national and a Geology graduate of the University of Copenhagen.