Oil and Gas - - IN THE NEWS -

The Board of Di­rec­tors of Oman

Oil Com­pany (OOC) and Oman Oil Re­finer­ies and Pe­tro­leum In­dus­tries Com­pany (Orpic) has an­nounced the ap­point­ment of Musab Ab­dul­lah Al Mahruqi as the Group Chief Ex­ec­u­tive Of­fi­cer, ef­fec­tive De­cem­ber 2, 2018.

The same Board was ap­pointed to over­see both OOC and Orpic in Oc­to­ber 2017 as a first step in in­te­grat­ing Oman Oil Com­pany (OOC) and Orpic’s man­age­ments as well as the man­age­ment of their as­sets and busi­nesses.

The share­hold­ers of both com­pa­nies (Gov­ern­ment of Oman) had agreed ear­lier to the pro­posal of in­te­grat­ing the down­stream busi­nesses of both com­pa­nies as phase one of the in­te­gra­tion ini­tia­tive with guide­lines that in­te­gra­tion shall be im­ple­mented over sev­eral phases tak­ing into con­sid­er­a­tion the specifics of each busi­ness.

The de­tailed in­te­gra­tion process will be worked out and com­mu­ni­cated over the com­ing months. An in­te­grated ex­ec­u­tive team un­der the lead­er­ship of the Group CEO was formed in­clud­ing Isam Saud Al Zad­jali, Ahmed Saleh Al Jahd­hami, Talal Hamid Al Awfi, and Salim Su­laiman Al Huthaili.

HE Dr Mo­hammed bin Hamed Al Rumhy, Chair­man of both OOC and Orpic said “the Board be­lieves this in­te­gra­tion will cre­ate sig­nif­i­cant value for Oman and pro­vides a solid plat­form for our am­bi­tious growth plans for the group as well as pro­vid­ing our peo­ple more op­por­tu­ni­ties to de­velop and grow in this busi­ness.”

Musab Al Mahruqi was the CEO of Orpic be­tween 2010 and 2016 and has led suc­cess­fully the first large scale cor­po­rate in­te­gra­tion in Oman which took place dur­ing 2010-2012.

Since then, Orpic has em­barked on an am­bi­tious growth strat­egy that led to the im­ple­men­ta­tion of So­har Re­fin­ery Im­prove­ment Project “SRIP”, Mus­cat So­har Prod­uct Pipe­line “MSPP” and Liwa Plas­tics In­dus­tries Project “LPIC” with over $ 9 bil­lion cap­i­tal in­vest­ment in to­tal. SRIP and MSPP were com­mis­sioned in 2017 while LPIC is cur­rently un­der con­struc­tion with a tar­get to com­mence pro­duc­tion in 2020.

Musab had also worked in Oman Oil Com­pany “OOC” in var­i­ous po­si­tions be­tween 2003 and 2010. In 2008, he was ap­pointed as Chief In­vest­ment Of­fi­cer over­look­ing the port­fo­lio of OOC ex­ceed­ing 30 in­vest­ments, then. Dur­ing his time in OOC, Musab had sig­nif­i­cant con­tri­bu­tion in the rapid growth of OOC port­fo­lio both in­side and out­side Oman.

Musab holds an MBA from Ed­in­burgh Univer­sity (2003) and a Bach­e­lor’s de­gree in Chem­i­cal En­gi­neer­ing from Not­ting­ham Univer­sity (1999). Musab started his ca­reer in Sch­lum­berger as a field en­gi­neer in 1999 and worked in both West Africa and Caspian Sea be­fore join­ing Oman Oil Com­pany in 2003. He has op­er­a­tional, tech­ni­cal, com­mer­cial and fi­nan­cial back­ground in both up­stream and down­stream oil and gas sec­tors that has pre­pared him well to play his new role as Group CEO.

Newspapers in English

Newspapers from Oman

© PressReader. All rights reserved.