Saudi Aramco creates new body, appoints two non-Saudi board members
Posted: 07 August 2007
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Saudi Aramco has created a new body to boost coordination within its various operations as it pushed ahead with major expansion plans to maintain its position as the world’s top crude oil supplier.
The Operations Business Centre was launched on September 1, when a new Board of Directors was also appointed under a decree by King Abdullah.
“Effective September 1, Saudi Aramco created a new business organization designed to provide greater integration and coordination of the company’s core hydrocarbon operations and support activities,” Aramco said.
“The organization will be called the Operations Business Center , headed by executive vice president, Khalid A. Al-Falih.”
According to the statement, the new organization will consist of Saudi Aramco’s Exploration & Producing; Engineering & Project Management; Operations Services; and Refining, Marketing & International business lines.
At the same time, Abd Allah S. Al-Saif will be reporting directly to the president and chief executive officer on special assignment. Amin H. Nasser will continue to act as the head of the Exploration & Producing business line. Abdulaziz F. Al-Khayyal will assume the position of senior vice president for Industrial Relations, and Khalid G. Al-Buainain will become the senior vice president for Refining, Marketing & International.
“In today’s fast-paced environment, and given the expansion of the business and the increasingly integrated nature of the company’s operations and activities, close coordination among various parts of our business is essential,” said Saudi Aramco President & CEO Abdallah S. Jum‘ah.
“Saudi Aramco’s 75-year history has been characterized by the ability to adapt to a rapidly-evolving business environment…And these changes will position us to seize future business opportunities and to continue to meet our commitments as the world’s most reliable energy supplier.”
In another statement, Aramco reported that King Abdullah ibn ‘Abd al-’Aziz Al-Sa’ud ordered the formation of the Company’s Board of Directors under the chairmanship of Minister of Petroleum and Mineral Resources Ali I. Al-Naimi.
Two new non-Saudi board members were appointed, one is the former Shell chairman and the other is the former managing director of the World Bank.
The new board will begin serving from September 27 and is composed, in addition to Al-Naimi, of: Ibrahim A. Al-Assaf, Minister of Finance and Member of the Council of Ministers; Mohammed I. Al-Suwaiyel, President of King Abdulaziz City for Science & Technology (KACST); Abdul Rahman A.
Al-Tuwaijri, Secretary General of the Supreme Economic Council and Chairman of the Capital Markets Authority; Khalid S. Al-Sultan, Rector of King Fahd University for Petroleum and Minerals (KFUPM); Abdallah S. Jum’ah, president and CEO; Abdulaziz F. Al-Khayyal, senior vice president of Refining, Marketing & International; Khalid A. Al-Falih, senior vice president of Industrial Relations; Salim S. Al-Aydh, senior vice president of Engineering and Project Management; James W. Kinnear, former president and CEO of Texaco; Mark Moody-Stuart, former Chairman of the Royal Dutch/Shell Group; and Peter Woicke, former Executive Vice President of the International Finance Corporation (IFC) and Managing Director of the World Bank.
Al-Sultan, Al-Aydh, Moody-Stuart and Woicke are new members of the board.
Khalid S. Al-Sultan is the fourth rector of KFUPM and the first graduate of that institution to hold this position. He also has served as the Kingdom’s Deputy Minister for Educational Affairs ends.
Salim Al-Aydh assumed the position of senior vice president of Engineering & Project Management in 2002, and has joined the company in September 1970.
Mark Moody-Stuart is the Chairman of Anglo American plc and a former Chairman of the Royal Dutch/Shell Group.
Peter Woicke is the former Executive Vice President of the International Finance Corporation (IFC) and Managing Director of the World Bank. He has been the non-executive director of Anglo American plc and Plug Power Inc, a leading fuel cell company, since 2006. |
