The Business Year

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ADNOC and its businesses continue to be major players in the energy sector in Abu Dhabi, as well as in meeting the world's growing demand for oil and gas.

Jasem Ali Al-Sayegh

CEO, Takreer

The new leadership at ADNOC has had a significant positive impact for Takreer and its other subsidiaries. There was a strategic plan developed with a project management office and work streams established from day one to focus on numerous areas. The objective is to deliver maximum value out of the existing assets and stretch that value as far as possible. In terms of the downstream industry, this gave us more focus on where we are, where we should be, and how to reach that level. For example, we learnt the importance of maximizing the efficiency and profitability of our assets and measuring our employee performance in a more structured way. We also have to ensure that our staff, especially UAE nationals, are continuously having their skills, talent, and capabilities built up to run our facilities properly and effectively into the future. All of this has to be done without any compromise in the integrity of our facilities or the safety of our operations, and we believe all these measures will actually add to the integrity and safety of our facilities. Overall, my assessment on the changes in ADNOC is extremely positive, and Takreer’s management has welcomed it with an open mind as it will drive the industry in the right direction.

Ahmed Abdulla

CEO, Borouge

There have been many changes in ADNOC, especially after the appointment of Dr. Sultan Ahmed Al Jaber as CEO of ADNOC. The changes have contributed to redesigning the landscape of the oil industry to make it more competitive. Now we have four main pillars that we are working on: people, performance, profitability, and efficiency. We are one of the main players in the petrochemicals industry and have many challenges ahead that come from the more competitive landscape. Our strategy is to make our supply chain and value chain more sophisticated, especially regarding plastics solutions. We also need to concentrate on diversifying our solutions, which will help support the ambitions of the downstream market. After all, we are part of the downstream sector, and we need to work with the gas, refining, and petrochemicals industry to add value to every drop of oil and gas by producing plastics solutions that have a positive impact on everybody’s lives. The marketing structure is also changing; more barriers have been established, especially in India and China. Therefore, we need to check every unturned stone to make a more competitive product, either by looking at the solution itself, the logistics of delivering the product, or quality of the product.

Abdalla Saeed Al Suwaidi

CEO, Abdalla Saeed Al Suwaidi

As the umbrella for all the upstream, downstream, and services work carried out in Abu Dhabi, ADNOC has a strong lead and a unified message across the companies that form the group. We all have a common set of performance objectives to follow and there will be consistency in how we set our priorities across the group. These changes are taking efficiency to a much higher level and have brought the ADNOC family together. We will keep adding rigs during 2017 and ensure that our clients are achieving their business plans and industrial targets. We acknowledge the importance of drilling efficiently and safely, and our mission is to make sure that the supply of rigs is available. We seek to finish 94 rigs in 2017, and it is crucial that during 2017 we have the people, materials, equipment, and all the support services to make sure these rigs start operation. We also have high KPI targets involving efficiency and profitability. We have reached remarkable milestones since our inception in 1972. We recently reached a total 42 million feet drilled since we began operations, which is equivalent to the earth’s diameter. Moreover, we expect to graduate nearly 350 employees ready for work in the industry, all of them UAE nationals.

Dr. Saif Sultan Al Nasseri

CEO, Abu Dhabi Gas Industries (GASCO)

In 2016, the sector went through drastic changes that positively impacted the performance of NOCs in Abu Dhabi. Probably the main transformation came from ADNOC’s new leadership, which projected a completely new vision based on four pillars—people, efficiency, performance, and profitability. We aligned ourselves to this strategy and that is the way in which we are operating now. For almost 40 years now, GASCO has been the leading player in the utilization of the country’s vast gas resources, and we continue to put in place programs to measure and benchmark our performance to close the gap between us and best-in-class performance. Maximizing energy efficiency is one element of our strategy to meet that target because every molecule of gas that we do not burn in our processes is one more in the gas network. This includes switching off our own electricity generators, building infrastructure to import electricity from the grid, and maximizing the utilization of combined-cycle power generation at ADWEC. Another initiative is the recovery of carbon dioxide from our gas treatment facilities for use in enhanced oil recovery. The CO2 injection frees up hydrocarbon gases that are currently being used for oil field pressure maintenance.

Saif Ahmed Alghfeli

CEO, Abu Dhabi Company for Onshore Petroleum Operations Ltd. (ADCO)

Last year, we witnessed major transformations in the development of the oil and gas industry in Abu Dhabi. In light of the changed energy market, ADNOC and its group companies have dedicated their attention to driving efficiency, streamlining the business, aligning policies, and optimizing costs. ADCO, ADNOC’s major onshore operations arm, is an important part of this. As a result of the changes across ADNOC and other sensible operational and cost optimization measures, we have significantly reduced production cost per barrel, sharpening our competitive edge and enhancing our value. All this is critical to maintain our position at the core of the economic landscape of the Emirate. At ADCO, we are embedding a performance culture, focused on profitability and efficiency that has to be embraced throughout our company and throughout all parts of the value chain. Ultimately, our people make everything happen and are pivotal enablers to ensure we are going in a unified direction that leads to progress and sustainability. Underpinning everything is our commitment to HSE and the integrity of our assets. On the environmental side, for example, we have implemented the Energy Improvement Opportunities (EIO) Program, which has enabled ADCO to achieve cumulative savings of 2,820 terrajoules in 2016 worth several million dollars.

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