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Sultan Ahmed Al Jaber will replace Abdulla Nasser Al Suwaidi as general manager of state-run Abu Dhabi National Oil Company in a massive restructuring by Crown Prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces Sheikh Mohammed Bin Zayed Al Nahyan, Bloomberg reported on Monday.

ADNOC efficiency drive unveiled

ABU DHABI, June 13, 2016 – Minister of State and Abu Dhabi National Oil Company (ADNOC) chief executive Sultan Ahmed Al Jaber disclosed on Sunday additional details of the ADNOC master plan to streamline the company’s operations across the value chain and increase efficiency and profitability.

 

A major component of the plan will be to reduce gas imports, which have been on the rise since 2008. “A focus will be placed on ensuring we provide a sustainable and economical supply of gas through an integrated gas master plan,” Al Jaber said. ADNOC will also work to align its upstream and downstream operations, and seek to reap benefits from group procurement.

“We are exploring how to align and create more synergy among our downstream operations, how best to maximise the use of our resources and to produce new petrochemical products,” the chief executive also said. One of the measures will see ADNOC look to replace its premium crude grade Murban with blended crude for refining purposes.

Other pillars of the master plan include new standards for operating costs per barrel, increased accountability and new performance indicators.

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