Ben van Beurden
, CEO,Royal Dutch Shell
Ben Van Beurden has been in the news recently due to media reports that suggested that his total pay in 2016 soared by 60% on the back of deferred bonus and share payments – effectively making him one of the highest paid global oil and gas industry executive. But the Royal Dutch Shell CEO’s remuneration underlines his efforts to consolidate the Anglo-Dutch energy giant’s position in the global oil and gas market.
Van Beurden’s excellent corporate strategy sealed Shell’s $70bn acquisition of BG Group last year. Following the pivotal acquisition, Shell has turned its attention to restructuring its business and focussing on existing assets. Shell still enjoys a formidable position in the Middle East – largely due to its 34% stake in Petroleum Development Oman, despite the IOC’s much talked about exit from ADNOC’s $10bn-worth Bab sour gas field project in Abu Dhabi and its decision against renewing its stake in the ADCO concession. It is also be worth noting that Van Beurden has not ruled out a return to the Abu Dhabi market in future.
Shell is ardently exploring opportunities in Iran and has become one of the 29 pre-qualified companies that will be allowed to bid for upstream contracts. It has signed an MoU to study the South Azadegan and Yadavaran fields, in addition to the Kish gas field. Shell’s presence in Iran before sanctions will put it in a favourable position if it decides to bid for some of the fields. In Iraq, Shell is heavily involved in the country’s gas sector and holds a 44% stake in the Basrah Gas Company, as part of a 25-year joint venture that began in 2013.
