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ADES names new CFO

Written by  OE Staff Wednesday, 06 September 2017 09:32

ADES International Holding, the London-listed company providing offshore and onshore oil and gas drilling and production services in the Middle East and Africa through its subsidiaries, announces the appointment of Ahmed El-Khatib as chief financial officer (CFO) with immediate effect.

El-Khatib, a UK national, is a veteran of the global energy industry with experience spanning the Middle East, North Africa and Europe. Over a 20-year career, he served in a series of increasingly senior posts with BP, which he joined in 1996, including postings in Cairo, London, Houston and Abu Dhabi, during which he led complex, multibillion-dollar transactions across the Middle East, including the renewal of licenses, bids, and the design of commercial structures, among other senior financial mandates. 

El-Khatib was most recently BP’s business development director for the Middle East, where his track record included leading the commercial negotiations for BP’s entry to Kuwait, bid preparation for onshore and offshore concession renewal opportunities for Abu Dhabi and acreage extension in Oman. He was head of finance in Houston for BP’s Global Projects Organization with a scope covering 25 projects comprising 30% of BP’s project capital in 2013; executive director of the United Gas Derivatives Co. in Cairo; and a director for mergers and acquisitions at BP’s global M&A function in London, among other postings. 

He holds an MBA from the American University in Cairo, and MSc in computer science from Howard University in Washington, DC, and a B.SC. in electronic and communications engineering from Cairo University. 

“I am very pleased to welcome Ahmed to the Group as we strengthen our senior management team with the finance, business development and investment talent we need to pursue our next phase of growth. Ahmed’s unique experience in the sector both globally and regionally will be important to the Group as we pursue both new territories and inorganic growth opportunities,” Dr. Mohamed Farouk, CEO of ADES International Holding said.

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