UAE’s Adnoc names new heads

State-owned Abu Dhabi National Oil Co. (Adnoc) has replaced the chief executives of six of its operating companies, including its largest oil, gas and petrochemicals-producing interests, MEED reported.

Sultan al-Jaber, who was named Adnoc director-general in February, announced the new appointments in an internal company email seen by MEED.

Under the management shake-up, Saif Ahmed al-Ghafli has been appointed as chief executive of crude producer Abu Dhabi Company for Onshore Petroleum Operations (Adco). He replaces long-term CEO Abdul Munim Saif al-Kindy.

Al-Ghafli was formerly head of Abu Dhabi Gas Development Company (Al-Hosn Gas), which developed the ambitious Shah sour gas project.

Meanwhile, Yasser Saeed al-Mazrouei now heads Abu Dhabi Marine Operating Company (Adma-Opco), which operates several offshore fields in the Gulf. Al-Mazrouei, who was previously Adnoc’s deputy director of exploration and production, replaces Ali Rashid al-Jarwan.

Other CEO appointments are as follows:

Abu Dhabi Gas Industries (Gasco) – Saif Sultan al-Nasseri

Abu Dhabi Polymers Company (Borouge) – Ahmed Omar Abdulla

Abu Dhabi Gas Development Company (Al-Hosn Gas) – Mansour Mohammed al-Mehairbi

Al Yasat Company for Petroleum Operations – Ali Khalifa al-Shamsi

The re-shuffle sees new chief executives at all of the state-owned company’s major upstream oil and gas producing subsidiaries, except offshore group Zakum Development Company (Zadco). The heads of Abu Dhabi Refining Company (Takreer) and Abu Dhabi Gas Liquefaction Company (Adgas) also remain unchanged.

Adnoc has come under pressure to slash costs amidst the global plunge in oil and gas prices. The company, responsible for the vast majority of the UAE’s oil and gas output, is looking to increase crude production capacity to 3.5 million barrels per day (bpd) from a current level of about three million bpd.