Saad Sherida Al-Kaabi
, President and CEO,Qatar Petroleum
Perhaps one of the biggest integrations of state-owned energy assets, in the current wave of mergers and acquisitions (M&A), has been planned by Qatar Petroleum. The Qatari major, late last year, announced the merger of two of its key gas producing companies – Qatargas and Rasgas – a move that QP CEO Saad Sherida Al-Kaabi has estimated to be completed later this year, effectively putting him in charge of expanding the portfolio of an already mammoth organisation.
Qatar Petroleum has already overtaken Russia’s Rosneft and America’s ExxonMobil in total gas output, as the company produces and sells more liquefied natural gas (LNG) than any other company.
In terms of upstream achievements, Qatar Petroleum last year partnered with French major Total, awarding the latter a 30% stake and retaining the larger 70% share of Al Shaheen oilfield, thereby cementing the prospect of continuous E&P activity in one of its core assets for the next 25 years.
Al-Kaabi has been efficiently leading QP’s ventures abroad. He has overseen the Qatari major’s successful bid to renew its exploration licence in resource-rich Moroccan waters, sealed an agreement with Abu Dhabi-based Dolphin Energy to supply more LNG to the UAE, joined an international consortium to build an LNG import facility in Pakistan, and had an exploration contract in Cyprus approved.
