Abdul Munim Saif Al-Kindy
,CEO,ADCO
The last 18 months have been historic for ADCO. January 2014 marked was the end of the old concession which was originally signed between the Ruler of Abu Dhabi and the international shareholders on 11th January 1939.
ADCO continued to operate the concession area on behalf of the sole shareholder ADNOC. Five new development projects have been awarded in accordance with the approved plans to reach a set target of 1.8 mmbd.
In addition, there was a considerable growth in manpower to cater for the expansion with emphasis on UAE nationals’ employment and integration.
Setting out his vision for this year, Al Kindy has said: “In 2015, we look for the transformation to accommodate coming changes if any and make every effort to handle all obstacles. At the same time, ADCO will continue to implement the approved plans and optimise resources and cost as a reflection of the current oil market trends.
ADCO will continue to focus on good governance to manage the company in accordance with the best industry practices. In addition, relationship with the stakeholders such as contractors/suppliers, local communities and others will be a priority to ensure that their interests are properly looked after.”
