Dr. Sultan Ahmed Al Jaber, CEO, ADNOC
01. Dr. Sultan Ahmed Al Jaber, CEO, ADNOC
Rising to the top spot on the Power 50 list is Dr Sultan Ahmed Al Jaber of the Abu Dhabi National Oil Company (ADNOC). The chief executive officer has led transformation of the UAE major in the past 12 months, during which ADNOC has optimised operations and utilisation of resources, including the integration of a number of its subsidiary companies.
Al Jaber has also successfully overseen Abu Dhabi’s most prized asset during a cruel downturn in the oil and gas industry – a period during which ADNOC has maintained crude oil production (and even increased output at will), engaged in intense exploration and production (E&P) activity, managed its assets better, awarded tenders for new projects, and adopted (and sometimes even internally developed) advanced technologies and systems to modernise and bring about efficiency in operations.
Among the multiple achievements of Al Jaber’s leadership of ADNOC, it is perhaps the completion of the Abu Dhabi Company for Onshore Oil Operations (ADCO) concession sale that stands out as a highlight. Awarding of the 40% ADCO stake earmarked for foreign investments to a variety of IOCs, not just boosts Abu Dhabi’s relations with those countries but also secures ADNOC’s future production for the next four decades.
Al Jaber has also been instrumental in devising the storage reserve deal between the UAE and India, an agreement that not just strengthens relations between the two countries, but also gives ADNOC control of a strategic stockpile.