News
  • Register

May 18, 2016 - Contax Partners’ Energy Feed

ADNOC Reshuffles its Leadership | Possible revival of merger between Sipchem and Sahara | Satorp awards Jacobs 2yr GES Contract | Iran considers Sinopec & CNPC to carry-out onshore field developments

 

ADNOC Reshuffles its Leadership

emerson bpAbu Dhabi National Oil Company's (ADNOC) has announced that it has reshuffled its leadership. This announcement comes soon after the appointment of Sultan Al Jaber as ADNOC's CEO. The company appointed new chief executives for six of its 18 operating units (including ADCO and ADMA-OPCO); the newly-appointed executives all come from within ADNOC. Furthermore, Dr. Al Jaber plans to establish a new corporate regime where top executives will need to operate as 'active asset managers.' This would involve top executives ensuring that operating company chiefs are accountable for meeting specific operational and financial targets.

 

Some of the leadership changes include:

  • Saif Ahmed Al Ghafli - CEO: ADCO
  • Yasser Saeed Al Mazrouei - CEO: ADMA-OPCO
  • Abdulaziz Abdulla Alhajri - Director: ADNOC's Refining & Petrochemical division (Fertil, Borouge, ChemaWEyaat, Takreer)
  • Omar Suwaina Al Suwaidi - Director: ADNOC's Gas Processing division (GASCO, ADGAS, Al Hosn Gas)

Possible revival of merger between Sipchem and Sahara

amec foster zakumSaudi International Petrochemical Co. (Sipchem) and Sahara Petrochemicals Co. have begun early-stage talks on reviving the merger which was put on hold in 2014 and which was expected to create a market value of c.USD 2.7bn. This merger was said to be put on hold in 2014 due to difficulties in finding a way to create a structure that was acceptable to both parties. Due to market conditions, the value of both firms have more than halved since 2014. Furthermore, with the government looking to save money by reducing subsidies, both companies are facing a rise in costs. Sipchem stated earlier this year that it expects to have a c.SR 120mn financial impact in 2016 while Sahara said it would see a c.3% increase in costs due to subsidy reduction.

 

 

Satorp awards Jacobs 2yr GES Contract

POGC Iran South pars gasSaudi Aramco Total Refining and Petrochemical Company (Satorp) has awarded Jacobs a 2 year contract to provide general engineering services (GES) at Satorp's Jubail Industrial City II facilities in Saudi Arabia. According to the terms of the contract, Jacobs will provide a range of feasibility studies, concept design and detailed engineering design services for a portfolio of low capital expenditure projects.

 

 

Iran considers Sinopec & CNPC to carry-out onshore field developments

aramco jgc shale gasIran has signed initial contracts with two Chinese companies, Sinopec and CNPC, for phase 2 of its North Azadegan and Yadaravan onshore oilfield developments. Iran's oil minister, Bijan Zanganeh, stated that while the Master Development Plan of Yadavaran oilfield is progressing, discussions over the North Azadegan oilfield are still ongoing.

 

 

 

 

LET US HELP YOU SUCCEED IN THE ENERGY MARKET!

 

Contax Partners assists project owners, contractors and suppliers to maximize opportunities associated with these projects, guide them on the underlying risks related to execution and the effects of increasing project workload.

Request for more information
OUR LOCATIONS

Bahrain

Office 241, 19th Floor

Platinum Tower- Seef

 P.O. Box 31005, Manama

Bahrain

Tel: +973 (1) 7224456

Fax: +973 (1) 7212204

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.  

Dubai

Office 3106, Jumeirah Business Centre 3

Cluster Y, Jumeirah Lakes Towers

P.O. Box 643554, Dubai

United Arab Emirates

Tel: +971 (4) 3695520

Fax: +971 (4) 3695521

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Abu Dhabi

Office No. 5/Unit-3A, 2nd Floor

Sh. Saeed Al Nahyan Building,

Al Falah Street, Location No. C-48-E18_02

P.O. Box 2503, Abu Dhabi

United Arab Emirates

Tel: +971 (2) 6222966

Fax: +971 (2) 6222977

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Since our establishment in 1985, Contax Partners has been the advisor of choice for companies operating within the constantly evolving Middle East and Africa energy sector. Having operated in the energy market for over 30 years, we have a track record of empowering our clients to win business. Contax Partners is well placed to understand the challenges, and what impact these can have on your growth plans for the Middle East and Africa. 

UAE Oil and Gas Consulting Firm Company Download Brochure