Dubai: Mubadala Petroleum on Sunday announced the appointment of Bakheet Al Katheeri as the company’s new chief executive.
The international oil and gas exploration and production company said in a statement that Al Katheeri succeeds Musabbeh Al Kaabi, who was recently appointed to lead the new Petroleum and Petrochemicals portfolio of Mubadala Investment Company when it commences operations in May.
With more than 18 years of experience in the oil and gas industry, Al Katheeri was previously the company’s Chief Growth Officer, responsible for all new business ventures and M&A (merger and acquisition) activity, and Chief Operating Officer, moderating operated and non-operated assets as well as UAE gas supply.
Before joining Mubadala Petroleum, he was managing production and facilities engineering for five operating companies of the Abu Dhabi National Oil Company (Adnoc).
“Our efforts over the last two years in reducing the company’s cost base and increasing the efficiency of our operations, against a very challenging market environment, have positioned us well to take advantage of this period of more stable prices. We are looking for new opportunities to add to our existing production and the development projects we expect to bring forward in the near future,” Al Katheeri stated.