State-owned Abu Dhabi National Oil Company (Adnoc) has replaced the CEOs of six operating companies including its largest respective oil, gas and petrochemicals producing interests.
Sultan al-Jaber, who was appointed director-general of Adnoc in February, announced the appointments in an internal company email seen by MEED.
Saif Ahmed al-Ghafli has been appointed as the CEO of crude producer Abu Dhabi Company for Onshore Petroleum Operations (Adco) as a replacement for long-term CEO Abdul Munim Saif al-Kindy.
Al-Ghafli was formerly head of Abu Dhabi Gas Development Company (Al-Hosn Gas), which carried out the development of the ambitious Shah sour gas project.
Yasser Saeed al-Mazrouei has been appointed CEO of Abu Dhabi Marine Operating Company (Adma-Opco), which operates several offshore fields in the Gulf, replacing Ali Rashid al-Jarwan. Al-Mazrouei was previously Adnocs deputy director of exploration and production.
Full list of CEO appointments:
- Abu Dhabi Company for Onshore Petroleum Operations (Adco) Saif Ahmed al-Ghafli
- Abu Dhabi Marine Operating Company (Adma-Opco) Yasser Saeed al-Mazrouei
- Abu Dhabi Gas Industries (Gasco) Saif Sultan al-Nasseri
- Abu Dhabi Polymers Company (Borouge) Ahmed Omar Abdulla
- Abu Dhabi Gas Development Company (Al-Hosn Gas) Mansour Mohammed al-Mehairbi
- Al Yasat Company for Petroleum Operations Ali Khalifa al-Shamsi
Adnoc has been under pressure to cut costs to offset the fall in global oil and gas prices. The company, which is responsible for the vast majority of oil and gas output in the UAE, is aiming to increase crude production capacity to 3.5 million barrels a day (b/d) from a current level of about 3 million b/d.
The re-shuffle appoints new heads at all of Adnocs major upstream oil and gas producing subsidiaries with the exception of offshore group Zakum Development Company (Zadco). The heads of Abu Dhabi Refining Company (Takreer) and Abu Dhabi Gas Liquefaction Company (Adgas) also remain unchanged.