The board of directors of Oman Oil Company (OOC) and Oman Oil Refineries and Petroleum Industries Company (Orpic) announced the appointment of Musab Al Mahruqi as the new Group Chief Executive Officer, effective December 2, 2018.
Eng. Musab Al Mahruqi was the CEO of Oman Oil Refineries and Petroleum Industries Company (Orpic) between 2010 and 2016.
During that period, Orpic 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 9.0 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.
In 2008, he was appointed as Chief Investment Officer overlooking the portfolio of OOC, exceeding 30 investments, then. During his time at OOC, he had significant contribution in the rapid growth of OOC portfolio both inside and outside Oman.
The shareholders of both OOC and Orpic (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 Eng. Musab Al Mahruqi was formed including Eng. Isam Saud Al Zadjali, Eng. Ahmed Saleh Al Jahdhami, Mr. Talal Hamid Al Awfi, and Mr. Salim Sulaiman Al Huthaili.
H.E. Dr. Mohammed Hamad al Rumhi, Chairman of both OOC and Orpic said, “The board believes this integration will create significant value for Oman and provide 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.”
For more information, visit http://www.oman-oil.com/.