The new CEO of the Emirates National Oil Company (ENOC) is looking to enter new markets and look for new revenue streams.
Sheikh Hamdan bin Rashid Al Maktoum, deputy Ruler of Dubai and chairman of ENOC, announced the appointment of Saif Humaid Al Falasi as the new CEO.
Al Falasi takes over from Saeed Al Khoory, who served as CEO of ENOC, and led its business diversification and geographic expansion.
In a statement, ENOC said Al Falasi will provide "vital direction and leadership to the company in driving its growth".
He said: "With the support of the board of directors and the management, we will continue to build on the strong results achieved to date.
"The focus will be to lead the company's growth by exploring new geographic markets as well as diversifying our revenue streams. In this, our people and stakeholders will continue to be the key priority."
Formerly executive director, environment, health, safety & quality and corporate affairs at ENOC, Al Falasi joined ENOC in 2008 and has also served as group general manager.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.