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Contacts

Phone:

+966 13 328 8288

Address:

The Industrialization & Energy Services Company (TAQA), Dhahran 4088-34455, Building: 15 - Eastern Province, The Kingdom of Saudi Arabia

Venture Management

As part of TAQA’s vision in fulfilling its purpose as a leading oilfield services and equipment manufacturing company, Joint Ventures will remain an integral part of our portfolio to diversify risks and increase shareholder value. The Venture Management function within TAQA is an instrumental resource-team built on multi-disciplinary expertise with the aim to support TAQA’s subsidiaries and affiliates to improve industry synergies between TAQA and its ventures and partners. The function is responsible for ensuring that TAQA’s strategic objectives are achieved while monitoring the performance of the ventures to ensure that all transactions are completed for a sustainable long-term success of the joint venture through:

Adel Al-Ghadhban

EVP Venture Management

  • Overseeing the company’s joint venture partnerships relations, governance, and performance.
  • Cultivating and maintaining positive, strategic long-term relationships with joint venture partners to achieve mutual benefit.
  • Identifying, recommending, and participating with Ventures’ Management decision making for potential joint opportunities.
  • Creating, reviewing and negotiating joint venture contracts and agreements including any third-party service agreement whilst protecting the interests of TAQA.
  • Facilitating and participating in detailed JV discussions and initiatives.
  • Ensuring joint venture activities are monitored and conducted in accordance with Group policies and recommended industry practices.
  • Monitoring the performance of the JV throughout the lifecycle and resolving any potential issues.
  • Acting as facilitator to resolve business and technical conflicts.
  • Review financial performance reports from the joint ventures and highlighting any concerns and potential resolutions.

Legal and Compliance

The legal department is part of the larger Venture Management, Legal, and Compliance department and serves as TAQA’s advisor on all legal matters which arise during TAQA’s business operations. The legal team works closely with TAQA’s senior management team, in addition to providing support to all business functions, working to identify and minimize and manage the company’s legal risks, protect TAQA’s interests, ensure compliance with laws and regulations, provide solutions to legal issues and enable informed decision-making at every step of the business cycle, thereby supporting the achievement of TAQA’s business objectives.

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TAQA strategic thrust is to become a regional (OFSE) player servicing the MENA markets.