Oil & Gas Power 50: 1 – 10

The state owned energy giant recorded revenues of $378bn in 2014 and employs around 60,000 people. While many in the oil and gas world have been forced to take a step back, Aramco has refused to put the brakes on production, and has signalled its intent to increase spending on non-conventional resources, manpower and innovation, cementing its position as the world’s largest oil company (by value).

Al Falih said that he considers Saudi Arabia to be the “next frontier” for shale projects, with the company reportedly looking to recruit a number of experience shale workers that have found themselves unemployed since the US market collapsed.

Saudi Aramco is also set to launch a new training programme that will focus on unconventional resources. Its Upstream Professional.

Development Centre (UPDC) will roll out the three year course for upstream engineers and scientists In March, the organisation has tied up a $10bn loan, which is likely to be used for acquisition targets, possibly from the non-conventional sector.

Al-Falih has also signalled his intent to double its crude supply to China, as the country looks to keep up with its demand for energy.

*Since the Power 50 was compiled, Al-Falih has been appointed to the post of Health minister in Saudi Arabia. 

2
Ali Bin Ibrahim Al Naimi
Minister of Petroleum & Natural Resources, Saudi Arabia

The man who is responsible for delivering Saudi Arabia’s stance to OPEC, Ali Bin Ibrahim Al Naimi has been resolute in position that the group should maintain output in the face of falling prices. Al Naimi has been credited with pushing through the decision not to cut, choosing instead to shore up the Kingdom’s share of the market. Speaking in February, the Minister said that the demand for oil was growing and that a calmness had returned to the market.

The decision to maintain output has been the subject of much vitriol, but Al-Naimi has called on non-OPEC members to cooperate in the effort to raise the price of crude.

“GCC countries have made have made serious efforts to balance oil prices, but the prices are set by the market,” he said. “We refuse to take responsibility alone because OPEC produces 30% of the market, and 70% comes from the outside.”

The next OPEC meeting is due to take place in June, but with Saudi Arabia unwilling to give up its market share to other oil producing nations, Naimi will be in the enviable position to force through a position which will once again benefit Saudi Arabia.

3
Sheikh Khalifa bin Zayed Al Nahyan
President of the UAE and Ruler of Abu Dhabi, Chairman of the Supreme Petroleum Council, ADNOC

As well as being the President of the UAE and Ruler of Abu Dhabi, Sheikh Khalifa bin Zayed Al Nahyan is also the Chairman of the Supreme Petroleum Council (SPC) at ADNOC.

The SPC is the highest authority responsible for the petroleum affairs in the Emirate of Abu Dhabi, laying down the Emirate’s policy and its objectives in all sectors of the petroleum industry. The SPC is also responsible for issuing resolutions for implementing its policy, and follow up such resolutions until the achievement of the aspired results.

The Sheikh has been credited for steering the development of the oil and gas sector and the downstream industries that have successfully contributed to the country’s economic diversification.

4
Abdullah Nasser Al-Suwaidi
CEO, ADNOC

ADNOC has achieved a number of milestones and achievements over the last 12 months, with CEO Abdullah Nasser Al-Suwaidi leading the way. Perhaps the biggest announcement was that Total signed a new 40-year onshore concession agreement with the Supreme Petroleum Council Abu Dhabi (United Arab Emirates) and ADNOC.

Under the terms of the deal, Total has been granted a 10% participating interest. The concession covers the 15 principal onshore oil fields of Abu Dhabi and represents more than half of the Emirate’s production.

The world’s biggest international oil companies are battling for a stake in the concession, meaning Al Suwadi is currently in a position of great strength and influence.

In February, ADNOC also announced that it had signed a technical agreement with Occidental Petroleum to develop the al-Hail and Ghasha oilfields, with the deal worth some $500mn. The agreement covers 3D seismic surveys, drilling of appraisal wells and conducting of engineering studies necessary for the fields’ development.

5
Abdallah Salem el-Badri
Secretary General, OPEC

When it comes to oil, OPEC calls the shots. The world’s largest oil cartel oversees two-thirds of global crude reserves and has the final say on output levels, a move that can make or break oil prices — and the energy-rich economies that depend on them. Few posts, then, can be seen as more influential than that of OPEC secretary general, currently held by Libyan, Abdalla El Badri.

A familiar face in the Oil & Gas Power 50, El Badri has held the top OPEC post since 2007 — a reign that has seen oil ricochet from a high of more than $110 a barrel last year, to under $50 in early 2015. In the midst of the global financial crash, he has played a key role in holding oil prices steady, walking the line between the demands of OPEC states and the needs of energy-hungry economies hit by recession.

6
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.”

7
Ali Rashid Al-Jarwan
CEO, ADMA-OPCO

It has been a busy 12 months for ADMA OPCO, which is spearheaded by Ali Rashid Al-Jarwan. The organisation has signed three major contracts for Nasr Full Field Development Project with National Petroleum Construction Company, Hyundai Heavy Industries and Technip, at an approximate total value of $3bn.

In addition, it awarded a contract for EPC Work for Additional Gas Supply to Onshore & Flexibility Assurance at Umm Shaif Super Complex to NPCC at an approximate value of $494mn.

The Nasr development is a strategic initiative of ADNOC and is part of of ADMA-OPCO’s plans to add 270 mbpd of additional production from its new fields Umm Lulu, Nasr and Satah Al Razboot (SARB), as part of its overall scheme to raise oil production.

8
Mohammed Bin Saleh Al-Sada
Chairman, Qatar Petroleum

H.E. Dr. Mohammed bin Saleh Al-Sada is one of the foremost members of the oil and gas community in the Middle East He brings with him a wealth of experience with over 25 years of service. He holds the posts of Minister of Energy & Industry for the State of Qatar, the Chairman of Qatar Petroleum (QP), and the Chairman of Tasweeq.

QP has made a number of noteworthy announcements over the last 12 months, including four new contracts and four contract extensions with Gulf Drilling International for drilling rig services, worth a combined $1bn.

The organisation also went through a significant restructuring. Announced in January, QP’s directors agreed to integrate Qatar Petroleum International within QP, in “an effort to further expand QP’s growth, development and international presence”.

9
Raoul Restucci
Managing Director, Petroleum Development Oman

Raoul Restucci has been the man in charge at Petroleum Development Oman (PDO) since October 2010, and is responsible for the day-to-day running of the organisation.

Restucci has outlined plans to markedly increase production over the next five years. PDO revealed a number of new exploration breakthroughs, including two discoveries in the Dhulia and Bribe A3C reservoirs, with a cumulative STOIIP of just over 613mn barrels.

There was also a 16% increase in Gas Initially In Place (GIIP) to 75.4 trillion cubic feet (Tcf), underpinned by new discoveries in Khulud West and Mabrouk South. On the unconventional oil front, eight wells – including five horizontal – were drilled in the Natih-B resource play. Hydraulic fracturing and testing is progressing, with results expected in the second half of 2015.

Restucci said: “Despite the challenging price environment, we maintain our profitable growth plans and we intend to stay the course with a continued focus on business improvement and sustainability. Our well engineering and project activity levels continue to grow and we are pursuing early monetisation of prospects where possible.

We are confident in our programme and we must seize the opportunity from the significant oil price decline, enabling increased cost saving opportunities and more collaborative ways of working.”

10
Hashem Sayed Hashem
CEO, Kuwait Oil Company

Hashem Hashem has been in charge of Kuwait Oil Company (KOC) since 2013, when he stepped up from his role as deputy managing director for South and East Kuwait. The price decline will not affect Kuwaiti investment plans aimed at boosting crude output capacity to 4mn barrels a day from 3.2mn barrels currently, Hashem has recently said.

The OPEC member was fully behind the cartel’s decision to maintain output levels despite the fall in oil prices. KOC is the exploration and production arm of Kuwait Petroleum Corporation and manages curde production from the Greater Burgan oil field, considered the second largest in the world.