Mubadala appoints new CEO for its oil and gas subsidiary

Former CEO Bakheet Al Katheeri will take up a leadership position at Mubadala's new investments platform

Mansoor Mohamed Al Hamed, the new chief executive of Mubadala Petroleum, has over 15 years of diverse experience in the oil and gas industry. Courtesy: Mubadala

Mubadala Petroleum appointed Mansoor Mohamed Al Hamed as chief executive, replacing Bakheet Al Katheeri.

Mr Katheeri, who served as head of Mubadala Investment Company's oil and gas exploration subsidiary will take an executive leadership position at its newly-formed investments platform.

The platform will manage a portfolio of industrial assets in the UAE, including Mubadala Petroleum.

Mr Al Hamed, who takes the helm of the petroleum unit, was previously chief growth officer at Mubadala and was responsible for all new business development, as well as merger and acquisition activities.

He has over 15 years of diverse experience in the oil and gas industry across various disciplines of business leadership.

"Throughout his tenure, Mansoor has been integral to driving the company’s growth and central to its international expansion over the years," said Musabbeh Al Kaabi, chief executive, UAE investments at Mubadala Investment Company.

"In his new role, and alongside the leadership team at Mubadala Petroleum, he will provide the continuity and focus needed to take the organisation forward amidst an evolving global energy landscape and the ongoing energy transition," Mr Al Kaabi, who also serves as chairman of Mubadala Petroelum, added.

Mubadala Petroleum manage assets and operations across 10 countries with a primary geographic focus on the Middle East and North Africa, Russia and Southeast Asia.

Mubadala is a globally diversified fund with more than $229 billion (Dh840bn) in assets under management across 15 different sectors.