The board of directors of Oman Oil Company (OOC) and Oman Oil Refineries and petroleum industries company (Orpic) announced the appointment of Mr. Musab Abdullah Al Mahruqi as the Group Chief Executive Officer, effective 2 December 2018.
The same Board was appointed to oversee both OOC and Orpic in October 2017 as a first step in integrating Oman Oil Company (OOC) and Orpic’s managements as well as the management of their assets and businesses.
The shareholders of both companies (Government of Oman) had agreed earlier to the proposal of integrating the downstream businesses of both companies as phase one of the integration initiative with guidelines that integration shall be implemented over several phases taking into consideration the specifics of each business. The detailed integration process will be worked out and communicated over the coming months. An integrated executive team under the leadership of the Group CEO was formed including Isam Saud Al Zadjali, Ahmed Saleh Al Jahdhami, Talal Hamid Al Awfi, and Salim Sulaiman Al Huthaili.
HE Dr Mohammed bin Hamed Al Rumhy, Chairman of both OOC and Orpic said “the Board believes this integration will create significant value for Oman and provides a solid platform for our ambitious growth plans for the group as well as providing our people more opportunities to develop and grow in this business”.
Musab Al Mahruqi was the CEO of Orpic between 2010 and 2016 and has lead successfully the first large scale corporate integration in Oman which took place during 2010-2012. Since then, Orpic has embarked on an ambitious growth strategy that lead to the implementation of Sohar Refinery Improvement Project “SRIP”, Muscat Sohar Product Pipeline “MSPP” and Liwa Plastics Industries Project “LPIC” with over USD 9 billion capital investment in total. SRIP and MSPP were commissioned in 2017 while LPIC is currently under construction with a target to commence production in 2020.
Musab had also worked in Oman Oil Company “OOC” in various positions between 2003 and 2010. In 2008, he was appointed as Chief Investment Officer overlooking the portfolio of OOC exceeding 30 investments, then. During his time in OOC, Musab had significant contribution in the rapid growth of OOC portfolio both inside and outside Oman.
Musab holds an MBA from Edinburgh University (2003) and a Bachelor’s degree in Chemical Engineering from Nottingham University (1999). Musab started his career in Schlumberger as a field engineer in 1999 and worked in both West Africa and Caspian Sea before joining Oman Oil Company in 2003. He has operational, technical, commercial and financial background in both upstream and downstream oil and gas sectors that has prepared him well to play his new role as Group CEO.
