Dubai’s ENOC Appoints New CEO

Emirates National Oil Company, ENOC, has announced the appointment of Saif Humaid Al Falasi as its new CEO, replacing industry veteran Saeed Al Khoory.

The appointment was made by Sheikh Hamdan bin Rashid Al Maktoum, deputy ruler of Dubai and ENOC chairman, the company said in a statement.

No reason was given for the change.

Al Falasi was formerly executive director, Environment, Health, Safety and Quality, EHSQ, and Corporate Affairs at ENOC. He joined the company in 2008 and also served as group general manager. He has previously worked with ADNOC group companies, Exxon, BP, JODCO and TOTAL, according to his official bio on the ENOC website.

His portfolio includes project management, petroleum asset evaluation, such as reservoir development and management, development of enhanced oil recovery, drilling and completion technology, surface facilities and production operation, the statement said. He has also executed full field development plans for the largest oil fields in the UAE.

“With the support of the board of directors and the management, we will continue to build on the strong results achieved to date,” said Al Falasi.

“The focus will be to lead the company’s growth by exploring new geographic markets, as well as diversifying our revenue streams.

“We will strengthen training programmes for our staff to ensure the development of talent to undertake and manage our growing business footprint effectively.”

Al Khoory, whom Al Falasi succeeded, was appointed CEO in 2007, and oversaw ENOC’s business diversification and geographic expansion.

The Dubai government-owned company now has over 30 active subsidiaries and international joint ventures, with its portfolio including refining, oil trade, terminalling and storage, bunkering, LPG, aviation fuel marketing, lubricants blending and marketing, with core operations in the Middle East, Asia, Europe and Africa.

Earlier this month, ENOC also made an offer for Dragon Oil, a Dubai-based oil explorer operating in Turkmenistan, to buy 47 per cent of the company it didn’t already own.