Unocal Reorganizes Top Management

Unocal Corp. said Wednesday that it reorganized its top management to better handle its increasing oil and natural gas reserves and help it reduce cash costs by as much as $200 million a year.

A four-person management committee, chaired by Chief Executive Roger Beach, was named to set company strategy and investment priorities, Unocal said.

El Segundo-based Unocal’s reserve base, including potential reserves, is more than 8 billion barrels of oil equivalent, Beach said. That’s five times its current size.

“This new organization will put the right people in the right positions, enabling Unocal to realize that potential at the highest possible investment returns,” Beach said in a statement.

The other members of the management committee are John Imle Jr., Timothy Ling and Charles Williamson, Unocal said. Imle, who was elected vice chairman, has been in charge of Unocal’s overseas operations, including the company’s controversial $1.2-billion pipeline in Myanmar. In his new role, Imle will “continue to serve as a key emissary” for Unocal’s global initiatives, Beach said.

Ling was named executive vice president, North American energy operations. He’s also chief financial officer and responsible for Unocal’s Spirit Energy 76 unit, Unocal Global Trade and its Canadian operations. Reporting to Ling will be John Donohue, named president of Spirit Energy 76. He replaces Jack Schanck, who’s leaving the company.

Williamson was appointed executive vice president of international energy operations. He will head all of Unocal’s energy operations and new ventures outside North America.

Unocal shares rose $1 to close at $29.56 on the New York Stock Exchange.