A petroleum engineer with a career spanning 25 years in staff roles and consultancy projects with companies such as UNOCAL, Shell and Exxon, Sadler was formerly CEO of Indago Petroleum, the majority assets of which RAK Petroleum acquired in March 2007.
Welcoming the new CEO, Board Chairman of RAK Petroleum Abdul Aziz Al Ghurair expressed hope that as an internationally renowned oil & gas professional with considerable experience in the GCC region, Sadler would be able to help RAK Petroleum achieve its rightful position among industry majors.
"RAK Petroleum is entering a new phase in our steady progress towards emerging an international oil & gas company with an integrated portfolio of services. Recently, we have taken great strides in consolidating our strength through major acquisitions in the GCC. Mr Sadler has the caliber and experience to take RAK Petroleum through the challenges of the future," said Al Ghurair.
Sadler started his career with Schlumberger in 1978 after graduating in Physics from the University of Oxford. He later earned his MSc in Petroleum Engineering from the Imperial College of London and joined UNOCAL as a petroleum engineer in 1982.
After steadily progressing through staff and engineering consultancy roles with companies such as Texas Eastern, Exxon, Fletcher Challenge, Agip and Shell, Sadler rose to the position of Head of Engineering in 1996 at Novus Petroleum Limited.
His first assignment in the Middle East came as Regional Manager for Novus in 2000, following which Sadler relocated to Dubai to look after the company's portfolio in the UAE, Oman, Pakistan, Egypt and Qatar. It was this portfolio that formed the core of the Indago Petroleum in 2005 and Sadler was appointed CEO of the new company.
"I'm extremely delighted to take up this new position as the Gulf region continues to be the main supplier of energy to the rest of the world. RAK Petroleum has recently enlivened the oil & gas markets with major acquisitions and set ambitious growth targets that are exciting for any industry professional," Sadler said while commenting on his new position.
In addition to Indago, RAK Petroleum also has a significant investment in Anzon Energy Limited, a UK-listed company.
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RAK Petroleum announces appointment of new CEO
- United Arab Emirates: Saturday, June 30 - 2007 at 11:35
- PRESS RELEASE
RAK Petroleum PCL has announced the appointment of Peter Sadler as Chief Executive Officer.
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About RAK Petroleum PCL
RAK Petroleum is an unlisted public company incorporated in the Ras Al Khaimah Free Zone, and was established in late 2005, funded by an initial capital of approximately AED 3 billion raised by private placement. RAK Petroleum has a further unissued authorised capital allocation of AED 2 billion to be utilised in future fundraisings. The vast majority of RAK Petroleum's issued share capital is held in the United Arab Emirates and Saudi Arabia.
RAK Petroleum was founded with the objective of initiating, participating, investing and developing energy related projects, assets, ventures and businesses in the highly prospective Gulf Cooperation Council markets and beyond. RAK Petroleum is strategically focused on developing into an international, integrated oil and gas company.
The RAK Petroleum board of directors is chaired by Mr Abdul Aziz Al Ghurair who is also the Chairman of Mashreqbank PSC.
Lara Lynn Golden, News EditorSaturday, June 30 - 2007 at 11:35 UAE local time (GMT+4)
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