Power 50

RPME Power 50 2018

Dr Sultan Ahmed Al Jaber
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Dr Sultan Ahmed Al Jaber

Group CEO, ADNOC

ADNOC made historic decisions in 2018, under the dynamic leadership of Dr Sultan Ahmed Al Jaber, group CEO, and the UAE minister of state. The most significant one was its plans to invest $45bn alongside partners, over the next five years, to become a leading global downstream player.

The plans were unveiled at the ADNOC Downstream Investment Forum in Abu Dhabi in May 2018. The unprecedented investment programme will underpin a new downstream strategy to significantly expand ADNOC’s refining and petrochemical operations at Ruwais in the UAE and undertake highly targeted overseas investments to secure greater market access.

Building on the existing strengths and competitive advantages of the Ruwais Industrial Complex, ADNOC will create the world’s largest and most advanced integrated refining and petrochemicals complex.

Through a combined programme of strategic partnerships and investment, ADNOC will increase its range and volume of downstream products, secure better access to growth markets around the world and create a manufacturing ecosystem in Ruwais that will significantly stimulate in-country value creation, private sector growth and employment. The strategy is expected to add more than 15,000 jobs by 2025 and contribute an additional 1% to the GDP per year.

Dr Al Jaber was appointed the director general of ADNOC on 15 February 2016, and was later named the CEO of the company. After his appointment, Dr Al Jaber, launched a plan to modernise ADNOC and make its operations more profitable.

As CEO, Dr Al Jaber has overseen a revision of the company’s partnership approach, investment strategy and capital structure, and consolidated the various operating units under a single unified brand.

With a production capacity of around three million barrels per day, the ADNOC Group is one of the world’s leading oil and gas companies. The group manages 95% of the UAE’s proven oil reserves and 92% of the country’s gas reserves.

Dr Al Jaber was appointed as minister of state in March 2013 and was tasked with various strategic portfolios in economy, politics, development, media, energy, infrastructure and sustainability, in order to promote the UAE’s reputation regionally and globally.

As well as his ministerial responsibilities, Dr Al Jaber supervises ADNOC’s performance development and efficiency enhancement strategies to consolidate the UAE’s place in the field of energy.

Dr Al Jaber started his career at ADNOC and then moved to Mubadala Development Company. In 2006, he was assigned to establish the Abu Dhabi Future Energy Company – Masdar – where he served as its CEO. In 2009, he headed Masdar’s participation in the UAE’s successful bid to host the headquarters of the International Renewable Energy Agency in Abu Dhabi.

Dr Al Jaber has expert knowledge of the economics of energy and a career that has cut across the entire value chain, including, oil, gas, and renewable energy. Dr Al Jaber holds a PhD in business and economics from the UK, as well as an MBA in project management and a BSc in petroleum and chemical engineering from the US.

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