Hong Kong-based Pearl Oriental Oil has appointed Mohamad Ajami as deputy chairman and executive director and Hilal Al-Busaidi as executive director with effect from Jan. 26.
Ajami started his career in North Africa in the oil and gas sector. He developed his mergers and acquisitions business, specializing in the development of major oil and gas resources, and mineral resources in the Gulf, Africa and the Mediterranean Basin. Ajami was also one of the founding shareholders of Ophir Energy, as well as the driving force behind the development of a major liquefied natural gas (LNG) project in the Arabian Gulf.
As part of his employment package, Ajami will be entitled to a director's fee of $100,000 per annum, as well as share options.
Al-Busaidi started his career with Schlumberger as a field engineer. At Schlumberger, Al-Busaidi worked in Saudi Arabia, Indonesia, Kuwait and Oman and gained experience in exploration well logging, managing the wireline, testing, tubing conveyed perforating and coiled tubing activities, client support services and operations management. In 2002, Al-Busaidi left Schlumberger to start his own ventures. The companies founded by Al-Busaidi includes: Falcon Oilfield Services, Petroleum Services Company, Gulf Energy and Medco.
As part of his employment package, Al-Busaidi will be entitled to a director's fee of $100,000 per annum, as well as share options.
Pearl Oriental Oil Limited engages in the production of oil and gas properties. It owns a 100% interests in Utah Gas and Oil Field covering an area of approximately 3,692 acres located in Uinta Basin, the United States. The company was formerly known as Pearl Oriental Innovation Limited and changed its name to Pearl Oriental Oil Limited in December 2011.