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Only Right Combination of Key Factors Can Build Globally Competitive Business, says Maurizio La Noce

Mubadala Petroleum CEO Offers Special Insights into Building Successful Enterprise at Knowledge-Sharing Platform Organized by Masdar Institute

Abu Dhabi-UAE: 26 March, 2013 – The long-term fundamentals for the energy industry will continue to remain robust despite far-reaching changes, especially the advent of unconventional hydrocarbons, such as shale gas and shale oil that are projected to corner a major share of the market. 

According to Maurizio La Noce, Chief Executive Officer of Mubadala Petroleum, the company’s continuing evolution into a globally competitive business hinges on three key factors – people, partnerships and performance. Only the right combination of these factors can bring about adequate growth and returns.

La Noce’s comments came during a lecture titled ‘Building a Globally Competitive Business: People, Partnerships and Performance’ at a knowledge-sharing platform organized by Masdar Institute of Science and Technology. The lecture was attended by top officials from the government and private sector in the UAE as well as international corporate leaders and faculty and students from Masdar Institute.

Dr Fred Moavenzadeh, President, Masdar Institute, said: “The lecture is organized as part of Masdar Institute’s knowledge sharing initiative under the framework of developing Abu Dhabi’s human capital. With the support of the country’s leadership we continue to provide the right forum for knowledge exchange and we hope this forum will benefit all the stakeholders.”

La Noce said: “Mubadala Petroleum is one of the strategic pillars within Mubadala and focuses on creating long-term value, developing a new generation of internationally capable leaders and contributing specifically to oil and gas projects of strategic interest to Abu Dhabi. We deliver on our promise through a clear vision and a shared purpose as well as with performance that excels.
 
“Our key priorities include accessing attractive opportunities, selecting the right partners and service providers, as well as mobilizing appropriate technology. Our greatest priority, however, is to attract and develop the right talent – people who are passionate about their work and willing to learn. We provide opportunities for local employees both at home and abroad, and manage relationships with key stakeholders and local communities.”
 
La Noce added that Mubadala Petroleum seeks to meet its strategic objectives through a three-pronged approach; delivering gas supplies to the UAE, creating long-term value growth through exploration-led businesses and generating near-term net income from its current producing and non-operated assets.
 
Currently, Mubadala Petroleum is focusing on three key regions – ‘Africa and Eastern Mediterranean’, ‘South-east Asia’, and ‘Middle East and Central Asia’. For each region, Mubadala Petroleum adopts a tailored approach. The company carries out high-impact exploration and frontier projects in the Africa and Eastern Mediterranean region, while targeting primarily lower risk, smaller scale-exploration and production in South-east Asia.
 
In the Middle East and Central Asia region, Mubadala Petroleum is concentrating on field redevelopment, some high impact exploration and gas supply in the UAE. 
 
Serving as a key pillar of innovation and human capital, Masdar Institute remains fundamental to Masdar’s core objectives of developing Abu Dhabi’s knowledge economy and finding solutions to humanity’s toughest challenges such as climate change.
 
Established as an on-going collaboration with the Massachusetts Institute of Technology (MIT), Masdar Institute integrates theory and practice to incubate a culture of innovation and entrepreneurship, working to develop the critical thinkers and leaders of tomorrow.  With its world-class faculty and top-tier students, the Institute is committed to finding solutions to the challenges of clean energy and climate change through education and research.
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