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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.







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