< Previous20 POWER 50 oilandgasmiddleeast.com APRIL 2019 Hashem Sayed Hashem, appointed CEO of KPC in December 2018, has big plans. Under his leadership, he aims to boost natural gas output to 3.5bn cubic feet per day by 2031, up from its current 1.9bn scf per day. With a cash injection of $500bn, its current oil capacity of 3.15mn bpd is expected to jump to 4.75mn bpd in 2040. HASHEM SAYED HASHEM CEO, KUWAIT PETROLEUM COMPANY In the 18 months before January 2019, the company invested $12bn across industries and regions. It bought a 20% stake in Egypt’s Nour concession, and 10% interest in Egypt’s Shorouk concession, containing supergiant Zohr gas field. In Abu Dhabi, Mubadala subsid- iary Cepsa won a 20% stake in ADNOC’s Sateh Al Razboot and Umm Lulu concession. KHALDOON KHALIFA AL MUBARAK CEO, MUBADALA INVESTMENT CO Appointed just after the US reinstated sanctions against Iran, Karbasian has hurdles to face. But despite sanctions, Iran’s energy sector is looking ahead with plans to spend $21bn on oil projects in the next four years, and has launched four new phases of South Pars field, shared with Qatar, where its gas output now exceeds Qatar’s. MASOUD KARBASIAN MANAGING DIRECTOR, NIOC CNPC is one of the largest foreign inves- tors in Abu Dhabi’s energy industry. It won a $1.6bn contract for the world’s largest continuous 3D onshore and offshore seismic survey from ADNOC, & a subsidiary won a contract to expand produc- tion capacity at Bab field. CNPC also has a 10% interest in two ADNOC offshore concessions. WANG YILIN CHAIRMAN, CNPC21 POWER 50 oilandgasmiddleeast.com APRIL 2019 Shell’s reach is undeniable, but Ben Van Beurden has been ousted to the outer edge of the top 10 this year due to Shell’s focus on divestment. It complet- ed its $30bn divestment programme, including the $406mn sale of its 19.6% stake in Iraq’s West Qurna 1 oilfield. Still, it has made a strong statement on pursuing carbon reduction goals. BEN VAN BEURDEN CEO, ROYAL DUTCH SHELL ExxonMobil has focused on unconven- tionals in North America, a fruitful strat- egy, as the company added 4.5bn barrels of proved oil and gas reserves in 2018, re- placing 313% of the year’s production. Woods’ promise to boost exploration has yielded strong results, including the discovery of 5tcf to 8tcf gas in the Eastern Mediterranean. DARREN W. WOODS CEO, EXXONMOBIL Bahrain has generally taken a back seat in the regional energy sector compared to the massive scale of Saudi Arabian production and the frenzy of change out of Abu Dhabi. But the country’s discovery of 80bn barrels of shale oil in the Khaleej Al Bahrain basin could reposition it as a hub for unconventional production. PETE BARTLETT CHIEF EXECUTIVE, BAPCO Al Mazrouei chaired OPEC’s 175th con- ference and the Opec and non-Opec fifth Declaration of Cooperation (DEC). Doubts arose that it would be come to an agreement, but it agreed to output cuts of 1.2mn bpd in December 2018. Al Mazrouei has emphasised the need for a more permanent relationship with non-Opec producers. SUHAIL MOHAMED FARAJ AL MAZROUEI PRESIDENT, OPEC CONFERENCE22 POWER 50 oilandgasmiddleeast.com APRIL 2019 Occidental won an onshore concession in ADNOC’s first international explora- tion licensing round, and is expected to invest $244mn towards the project. Vicki Hollub also inked two exploration deals with Oman Oil Company worth a combined $65mn followed by a $59mn EPSA with the Ministry of Oil and Gas. VICKI HOLLUB CEO, OCCIDENTAL PETROLEUM Egypt’s gas production has rocketed in recent years, with output of 6.8bn cubic feet of gas per day, 2bn of which comes from offshore Zohr field. However, the arbitration panel of ICSID ruled that Egypt would have to compensate Union Fenosa Gas with $2.13bn for EGAS’s failure to supply the amount of gas agreed upon in 2000. OSAMA EL BAKLY CHAIRMAN, EGAS During his first year as the CEO of Inpex, Takayuki Ueda led the company’s expansion in Abu Dhabi, where it ac- quired a 10% stake in the Lower Zakum concession and was later appointed its opera- tor. The ink has not yet dried on an agreement awarding Inpex subsidiary JODCO Exploration Abu Dhabi’s Onshore Block 4 as its operator. TAKAYUKI UEDA PRESIDENT & CEO, INPEX In his second year leading Algerian oil and gas company Sonatrach, Abdelmoumen Ould Kaddour has continued to stray from the norm and has aggressively pursued collabo- ration efforts with some of the world’s largest energy firms. The company has signed agreements with Eni and Total for offshore exploration, and in October 2018 agreed with Total to develop Erg Issouane gas field. Kaddour also inked an agreement with fellow list members British Petroleum and Equinor for the exploration and development of unconventional resources in the gas-rich nation. Ever the social butterfly, Sonatrach has also reportedly been in talks with 14 international firms to set up a trading joint venture. ABDELMOUMEN OULD KADDOUR CEO, SONATRACH23 POWER 50 oilandgasmiddleeast.com APRIL 2019 After months of hinting, Rainer Seele finally came through on his promise to expand in the UAE: OMV signed a $1.5bn deal with ADNOC giving the Austrian firm a 20% stake in the SARB and Umm Lulu offshore concession. OMV also acquired a 5% stake in the Ghasha concession and a 15% stake in ADNOC Refining. RAINER SEELE CEO, OMV Jabar Al Luaibi, who served as Iraq’s oil minister until October 2018 (replaced by Thamer al-Ghadhban), this year faced protests that rocked Iraq’s oil-rich south, US sanctions against Iran, and his continuous, but ultimately unsuccessful, attempts to start up Iraq’s own national oil company, which he would head. JABAR AL LUAIBI OIL MINISTER, IRAQ While ENOC, Dubai’s state-owned oil company, is primarily focused further downstream than most among these pages, Saif Humaid Al Falasi is undoubtedly an influential indus- try figure, and ENOC has a growing upstream presence through its production arm, Dragon Oil, established under Al Falasi’s leadership. SAIF HUMAID AL FALASI CEO, ENOC Lukoil has continued its activity in Iraq, having most recently tested the fourth and fifth wells in Eridu field, which is expected to start production in 2021. Under Vagit Alekperov’s leadership, Lukoil also started drilling 57 new production wells in West Qurna-2, part of its second development phase. VAGIT ALEKPEROV CEO, LUKOIL24 POWER 50 oilandgasmiddleeast.com APRIL 2019 India’s Oil & Natural Gas Company, which has a 10% stake in ADNOC’s Lower Za- kum offshore field, was asked to list its overseas arm, Videsh, in which the goverment holds a 67% stake, but in January 2019 said it would reconsider the listing. It has interests in six projects among a handful of Arab countries. SHASHI SHANKAR CHAIRMAN, ONGC Dana Gas has big plans— the firm will invest $5bn in Egypt in the next five years, and will increase output in Turkey and Iraq. Allman-Ward signed a $700mn deal to increase gas output in its Kurdistan field Khor Mor by 63% in two years. Still, the firm posted a net loss of $186mn for 2018 due to impairment costs. PATRICK ALLMAN-WARD CEO, DANA GAS Sanalla has had to reckon with masked gunmen in his headquarters and militia occupying NOC Libya’s biggest oilfied, El Sharara, which was eventually handed back. Still, he posted $24.4bn revenue, the highest since 2013, and has plans to overhaul the value chain with $60bn investment in five years. MUSTAFA SANALLA CHAIRMAN, NOC LIBYA M ajid Jafar has his sights set on Kurd- istan, with a recent deal signed with Dana Gas to increase gas pro- duction from Khor Mor by 63% in two years. He calls natural gas “the fuel of the 21st centu- ry,” and pinpointed Kurdistan’s rich gas reserves as a long-term focus for the company. MAJID JAFAR CEO, CRESCENT PETROLEUM Egypt is abuzz with activ- ity, and it’s not just natu- ral gas making headlines. EGPC is offering one of three planned international oil and gas exploration rounds in 2019, for the Western and Eastern Deserts and the Gulf of Suez. This is part of an ambi- tious plan to attract investors and grow domestic production. ABED EZZ EL-REGAL CEO, EGPC TAQA has had a strong year, reporting 149% year-on-year growth in net profit attributable to equity holders of the parent and average production of 123,100 boed per day. While the com- pany has its roots in Abu Dhabi, it has reached beyond country borders, with operations in Eu- rope, North America and Africa. SAEED MUBARAK AL-HAJERI CHAIRMAN, TAQA25 POWER 50 oilandgasmiddleeast.com APRIL 2019 Dolphin Energy, the joint venture between Mubadala, Occidental Petroleum and Total, meets approximately 30% of the UAE’s energy requirements, according to Mubadala. Still, the company has been affected by geopolitical events and ap- pears to have shrunk from the limelight in the past year. AHMED ALI AL SAYEGH MANAGING DIRECTOR, DOLPHIN ENERGY Igor Sechin has emphasised the importance of the Middle East for Russian giant Ros- neft. As part of the consor- tium developing Egypt’s giant Zohr field, Rosneft has seen some success in the region, announcing in September 2018 that its production capacity had increased by 25% to more than 2bcf per day. IGOR SECHIN CEO, ROSNEFT O man Oil Company is eyeing growth; from its cooperation in launch- ing entrepreneurial platform OM.HUB, to creating training institutes, an MoU with BP to invest in human capital & the first HSE Contractors Fo- rum, OOC is looking to change the status quo, while growing its downstream portfolio. ISAM AL ZADJALI CEO, UPSTREAM, OMAN OIL COMPANY D espite sanctions against Iran, the nation’s gas company has made strong progress. It produced an average of 21.5bn cubic feet (bcf ) per day from its giant South Pars field, and expects that figure to jump to 26.5bcf per day by late 2019. The nation’s total gas produc- tion is 29.7bcf per day. HASSAN MONTAZER TORBATI MANAGING DIRECTOR, NIGC Dana Energy, a private Iranian firm, has found success in field develop- ment. It won a tender to increase production in Iran’s Nargesi oilfield as well as the construction of a downstream facility. It also led a consortium with the National Iranian Oil Company to redevelop Aban and West Paydar oilfields. MOHAMMAD IRAVANI CHAIRMAN AND CEO, DANA ENERGY Malaysia’s oil and gas company but has made moves to ex- pand its presence in the Middle East. In December 2018, Petronas acquired a 10% stake in Oman’s Block 61, part of Khazzan field, and earlier in the year it announced a joint venture with Saudi Aramco to build a downstream complex. DATUK AHMAD NIZAM SALLEH CHAIRMAN, PETRONAS26 POWER 50 oilandgasmiddleeast.com APRIL 2019 APICORP posted a net income of $200mn in the past year, and raised $1.6bn from inter- national markets. Moody’s upgraded API- CORP’s ratings outlook from stable to posi- tive (AA3). In an exclusive comment, CEO Ahmed Ali Attiga noted APICORP’s strategy for the coming year. “We estimate that total planned and committed investments for 2019-23 in the MENA region will amount close to $1trn,” he says, adding that the com- pany is shifting focus. “We have increased our focus on sustainability and renewables,” Attiga adds. “Two of our first transactions this year are focused specifi- cally on solar and wind power in the MENA region.” However, it has growth in mind in the traditional oil and gas sector as well. “In gas, we believe that more investments are needed in the value chain, par- ticularly on the consumer side,” he adds. APICORP is also focusing on the private sector, which Attiga says “requires more support to facilitate the convergence of service companies and emerging technologies to improve their efficiences.” AHMED ALI ATTIGA CEO, APICORP27 POWER 50 oilandgasmiddleeast.com APRIL 2019 Sharjah National Oil Company, often over- shadowed by Abu Dhabi counterpart ADNOC, awarded Eni three exploration concessions in its first inter- national licensing round. In a January 2019 interview, SNOC CEO Hatem El Mosa said more bid rounds are on the horizon for the company. HATEM EL MOSA CEO, SHARJAH NATIONAL OIL COMPANY Gazprom Neft Mid- dle East celebrated its millionth ton of oil at the Garmian field in Kurdistan. It is establishing a joint venture in Western Siberia with Mubadala and the Russian Direct Investment Fund, which it says is part of a larger plan to make more deals, and expand its presence, in the Middle East. ALEXEY MILLER CEO, GAZPROM Ali Al Jarwan has decades of experience in the in- dustry, much of it with ADNOC (he was among the founders of the industry’s flagship conference, ADIPEC). As the CEO of ENOC’s produc- tion arm, Al Jarwan announced a $13bn expansion plan over the next decade, and a $500mn budget for acquisitions in 2019. ALI AL JARWAN CEO,DRAGON OIL F rederic Chemin not only heads Dubai Petroleum, he is also a board member of Dubai’s Supreme Council of Energy, further sharpening his interest in the emirate. Dubai Petroleum is not a spotlight-stealer, but it quietly plugs away at researching and developing technological inno- vations for its five fields, includ- ing using low salinity water for enhanced oil recovery, among others. In 2018, Dubai Petroleum discovered its sixth field, Aqam, though little is known about the company’s latest discovery. FREDERIC CHEMIN GENERAL MANAGER, DUBAI PETROLEUM RAK Petroleum holds a 40.45% interest in DNO, which is focused on exploration and produc- tion in Iraq and Oman. The Oslo-listed company, originally founded in UAE emirate Ras Al Khaimah, noted DNO’s divest- ment of Tunisian interests as if focuses on core business areas in the Middle East. BIJAN MOSSAVAR RAHMANI CHAIRMAN, RAK PETROLEUM DNO, partly owned by RAK Petroleum (sitting close by at number 40), gave up participation in Oman Block 8 to state-owned company OOCEP following the expiry of its license. It also sold its Tunisian assets, but boosted output in Kurdistan and took operatorship of Baeshiqa with a 40% interest in the license. BJORN DALE MANAGING DIRECTOR, DNO28 POWER 50 oilandgasmiddleeast.com APRIL 2019 After acquiring a 4% stake in an onshore ADNOC concession, agreeing to a 40-year term and a total investment of $1.8bn, CEFC China Energy transferred its interest to a subsidiary of China ZhenHua Oil Company. The company has faced scrutiny lately as part of a wider bribery investigation, which has seen its chairman step down. CHAN CHAUTO PRESIDENT, CEFC With a pivot towards gas and renew- ables, (as well as a name change from Statoil to Equinor), this com- pany has a presence in Libya, the UAE, Algeria and Turkey. It sold $26bn worth of natural gas in 2018, up 29% from 2017. It has developed two of the largest gas fields in Alge- ria, with daily production of 65,000 boed. ELDAR SAETRE CEO, EQUINOR Emergency Mobile No: 00971 50 3752010 Plot No S-50807, Jebel Ali, Free Zone (South), P.O. BOX 17729, Dubai-United Arab Emirates Telephone: +9714-8865119 Fax : +9714-8865118 Email: sales@sso.ae | info@sso.ae www. shreesteeloverseas.com Branch Office : Steel Piping Solutions LLC Muscat, Oman Branch Office : Shree Oilfield Supply LLC Global Ascent Business Center. Office No : 5, Block 2 - Unit 16, M4, Plot 12, Near Musaffah Sanaiya - Abudhabi Uae Tel : +9712-6214290, Fax : +9712-621428929 POWER 50 oilandgasmiddleeast.com APRIL 2019 Perenco may not have the largest operations in the Middle East, but company leader Francois Perrodo, also a race car driver, finds himself on this list for his interests in Tunisia. This year, he bought EPC company Petro- fac’s 45% stake in Tunisia’s offshore Chergui field. Perenco first acquired its Tunisian assets in July 2002, and has expanded its portfolio in the North Afri- can country since 2017. In 2018, it produced 10,000 barrels of oil equivalent per day in Tunisia. Perenco is expected to drill two new wells in Baguel concession. FRANCOIS PERRODO CHAIRMAN, PERENCO Lebanon is far from the centre of the region’s oil and gas industry, but the discovery of large re- serves in the Eastern Mediter- ranean may change the fate of this gas-starved nation. Two ex- ploration blocks were awarded in 2017, and it is in the midst of a second licensing round. WALID NASR CHAIRMAN, LEBANESE PETROLEUM ADMINISTRATION Su Yeong Yang signed a framework agreement with ADNOC CEO Sul- tan Al Jaber for poten- tial partnership opportunities. Korea National Oil Company has a 30% stake in ADNOC’s Al Dhafra Petroleum company, and has plans to increase oil storage in Korea by 24mn bar- rels until 2025. SU YEONG YANG CEO, KOREA NATIONAL OIL COMPANY GS Energy is an inde- pendent Korean energy company. It was one of three Korean companies to sign a framework agreement with ADNOC. Ha Young-Bong already has a relationship with the Abu Dhabi energy company, as GS Energy owns a 10% stake in Al Dhafra Petroleum and a 3% stake in ADNOC Onshore. HA YOUNG-BONG CEO, GS ENERGY W intershall acquired a 10% stake in ADNOC’s Ghasha ultra-sour gas concession in November 2018. Already active in Libya, the subsidiary of German chemicals giant BASF hit record produc- tion of 171mn boe in 2018, up from 164mn boe in 2017. MARIO MEHREN CEO, WINTERSHALL Itochu has operations across the Middle East, and in March 2018 bought Shell’s stake in the West Qurna 1 oilfield in Iraq for $406mn (and assumed $144mn in debt), ex- panding its regional presence. West Qurna 1 oilfield produces around 405,000 barrels of oil per day, making it a strong addi- tion to Itochu’s porfolio. MASAHIRO OKAFUJI CHAIRMAN & CEO, ITOCHUNext >