Oil & Gas Middle East Power 50 2013

Oil & Gas Middle East presents the fifty most influential decision makers in the regional upstream business

8 )Mohammed bin Hamad Al Rumhy

Mohammed bin Hamad Al Rumhy
Industry : Energy
Job Title: Minister of Oil and Gas

Through Al Rumhy’s leadership, Oman has managed to reverse field decline and is now producing 17% more oil than it was in 2007. The Minister has strategically managed to develop the national oil industry despite a 27% drop in production between 2001 and 2009. Under his leadership, Oman’s oil and gas company, Oman LNG, has turned the industry into a central part of the Sultanate’s revenue stream. The country currently has 5.5 billion barrels of proven oil reserves and 30 trillion cubic feet of proven natural gas, with Korea Gas Corporation dominating LNG output, producing 4.1 million tonnes per year. Through Oman LNG, the sultanate has an outlet for around 1.5 to 2 million tones of additional LNG exports per year, allowing new resources to be quickly monetized.