Ideal Employer Survey: The Top 10 National Oil Companies
6. China National Offshore Oil Corp. (CNOOC)
China’s largest offshore oil and gas producer, CNOOC also operates in more than 40 countries and regions. The Beijing-based NOC, established in 1982 and headed by CEO Yang Hua, had 106,000 employees at the end of 2016. That year, it reported 76.97 million tons crude oil production, 24.5 Bcm of natural gas production and 51.2 million tons of refining capacity. The People’s Republic of China’s Assets Supervision and Administration Commission operates state-owned CNOOC.
5. Qatar Petroleum
Qatar occupies an area smaller than Connecticut. Thanks in part to Qatar Petroleum (QP), however, the tiny Arabian Peninsula country’s impact on the global oil and gas industry could be called “Texas-sized.” Formed in 1974, the Doha-based NOC produces oil and gas from onshore and offshore acreage. Most noteworthy is QP’s North Field in the Persian Gulf.
Boasting 900 trillion cubic feet of recoverable natural gas, North is the world’s largest non-associated gas reservoir, according to QP. The company, led by CEO Saad Sherida Al-Kaabi, exports much of its North production as liquefied natural gas (LNG) through its Qatargas subsidiary. In fact, Qatargas is the world’s top LNG producer and – as the International Gas Union observes – Qatar exports more LNG than any other country.
4. Abu Dhabi National Oil Co. (ADNOC)
Already a significant downstream player with 922,000 bpd of refining capacity, ADNOC wants to elevate its downstream profile. The state-owned company, established in 1971, has adopted a downstream growth strategy that aims to create the world’s largest integrated refining and chemicals site at Ruwais, UAE by 2025.
To be sure, the downstream is not ADNOC’s sole focus. The company produces approximately 3 MMbpdand more than 9.8 billion cubic feet of raw gas per day. In all, the NOC’s holdings encompass 18 different companies and subsidiaries. Sultan Ahmed Al Jaber serves as ADNOC’s chief executive.
3. Kuwait National Petroleum Corp. (KNPC)
The domestic downstream unit of state-owned Kuwait Petroleum Corp. (KPC), KNPC garnered the number four ranking in Rigzone’s breakdown of Ideal NOC employers. Headquartered in Al-Ahmadi south of Kuwait City, KNPC can process up to 936,000 bbl of crude oil per day at three refineries.
The 58-year-old company, headed by CEO Mohammad Ghazi Al-Mutairi, also runs a four-train LNG plant at its Mina Al-Ahmadi (MAA) refinery that can produce approximately 2.5 billion standard cubic feet per day (scfpd) of LNG. KNPC is adding a fifth train at MAA that will raise liquefaction capacity to nearly 3.3 billion scfpd.
2. Petroliam Nasional Berhad (PETRONAS)
Headquarters of Malaysia’s integrated oil and gas company Petronas, the twin Petronas Towers, leave a distinctive mark on Kuala Lumpur’s skyline. Petronas also is making a growing impression on the oil and gas industry, both in Malaysia and abroad.
Established in 1974 and present in more than 60 countries, Petronas in 2016 reported daily production of nearly 2.4 million boe. Currently able to process 570,000 bpd of crude oil at refineries in Malaysia and South Africa, Petronas aims to add 300,000 bpd of new capacity by 2020 through its Refinery and Petrochemical Integrated Development (RAPID) project on Johor Island. The company also is a major player in Asia’s LNG sector, having deployed noteworthy projects such as the PETRONAS LNG Complex in Malaysia’s Sarawak state and the floating LNG facility PFLNG Satu in the South China Sea. In addition, Petronas is developing its second floating LNG vessel: PFLNG Dua.
Tan Sri Wan Zulkiflee Wan Ariffin serves as Petronas’ CEO.
1. Saudi Aramco
Topping the list of NOCs in Rigzone’s Ideal Employer Survey ranking for the second consecutive year is Saudi Arabian Oil Co., better known as Saudi Aramco. Established in 1933 and fully owned by the Kingdom of Saudi Arabia (KSA), Saudi Aramco reported the following production figures in 2016:
- 10.5 MMbpd of crude oil
- 8.3 billion scfpd of sales natural gas
- 920 million scfpd of ethane
- 1.4 MMbpd natural gas liquids
During the same period, Saudi Aramco reported reserves of 260.8 billion barrels of crude oil and condensate and 298.7 trillion standard cubic feet of natural gas. Also, its total share of refining capacity at domestic and international facilities amounted to 3.1 MMbpd in 2016.
CEO Amin H. Nasser is leading Saudi Aramco at a time when the KSA is trying to open state-owned enterprises to private investors. Along those lines, the Kingdom is seeking to launch an initial public offering (IPO) of a minority of Saudi Aramco’s shares to investors to raise capital for growth projects. At this writing, when the approximately 65,000-employee company’s IPO will occur is uncertain.
(EDITOR’S NOTE: Check out Rigzone’s ranking of the top NOCs for the previous year.)
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