Amin H. Nasser
,President and CEO,Saudi Aramco
Anew year and a new man to head Oil & Gas Middle East’s Power 50, following Amin H. Nasser’s ascension to the hot seat a Saudi Aramco, succeeding last year’s number one, Khalid Al-Falih, who is now the chairman at the energy giant.
It has been something of a baptism of fire for the organisation’s former senior vice president – Upstream, with the oil price falling significantly since he was confirmed as the new CEO.
But the power of the company has allowed it to renegotiate contracts and rates with its customers, lessening the financial impact of the oil price decline.
At the turn of the year, rumours were also rife that Aramco was considering an Initial Public Offering, although Nasser indicated any sale would come from its downstream operations, rather than its upstream portfolio.
Despite the challenging market, Aramco continues to drive forward with myriad projects and initiatives, including the $2bn expansion of the Khurais oilfield and the $5bn Fadhili gas plant in the country’s eastern region.
Recently, Nasser made one of his most significant announcement’s to date, saying it plans to nearly double its gas production to 23bn standard cubic feet a day in the next 10 years.
“Work is under way to execute an ambitious plan to implement this during the coming 10 years,” Nasser was quoted as saying.
