Dubai’s ENOC appoints new board for its subsidiary, Dragon Oil

DUBAI, Dubai-government owned Emirates National Oil Company Group, ENOC, today announced that it has appointed a new board of directors for its wholly-owned subsidiary, Dragon Oil.

H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, was selected as the company’s new chairman, the company said in a statement.

Saeed Mohammed Al Tayer, managing director and CEO of Dubai Water and Electricity Authority, DEWA, was named vice chairman of the board.

ENOC Group CEO Saif Humaid Al Falasi, who was recently appointed as the CEO of Dragon Oil, replacing Abdul Jaleel Al Khalifa, will continue at this stage, the statement added.

Dragon Oil’s other new board members include Abdulrahman Al Saleh, director-general of Department of Finance, Dubai government; Hussain Hassan Mirza Al Sayegh, deputy chairman, Oilfields Supply Centre; Dr Abdul Rahman Al Awar, director general of Federal Authority for Government Human Resources, FAHR; Ahmad Sharaf, CEO of Dutco Energy and chairman of the Dubai Mercantile Exchange, and Ahmad Al Muhairbi, secretary-general of the Dubai Supreme Council of Energy.

The new board will provide critical leadership and direction to Dragon Oil as it seeks more upstream opportunities while building on existing contracts, it said “Over the last 15 months, ENOC Group has conducted due diligence for the integration of Dragon Oil into its fold and is now set to embark on a new era of growth. Through its investment in Dragon Oil, ENOC provided an upstream asset for the emirate of Dubai, underlining its credentials in bolstering the nation’s energy security,” the statement said.

Source: Emirates News Agency