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Royal Dutch Shell holds board meeting in Doha

Saturday, 26 June 2010 22:09

DOHA: The Board of Directors of Royal Dutch Shell plc has met in Doha, underlining the importance of the country as a new heartland for Shell.

Chairman Jorma Ollila, Chief Executive Officer Peter Voser and other senior Board members were received during their visit by Deputy Premier and Minister of Energy and Industry, H E Abdullah bin Hamad Al Attiyah.

The Board of Directors which consists of three Executive Directors, nine Non-Executive Directors and the Company Secretary meets around eight times a year, usually in Shell’s headquarters in The Hague, to discuss Shell’s business and plans. Once a year the Board visits a key location for Shell’s global business and in 2010 they decided to come to Qatar.

The Board meeting was held at the Qatar Shell Research & Technology Centre at the Qatar Science & Technology Park. During a break in their meetings the Directors were briefed on progress in some of the research programmes being undertaken by Shell at the science park, where the company is investing $100m over 10 years.

The Board also visited the Pearl Gas to Liquids (Pearl GTL) and Qatargas 4 construction sites in Ras Laffan Industrial City and was briefed on progress on these projects.

Pearl GTL, which Shell is building with Qatar Petroleum (QP), is Shell’s largest single investment worldwide. Over 50,000 workers are currently employed on the construction site, which is the largest in the oil and gas industry.

At the project site, the Board members met with employees, acknowledging them first-hand for their achievements, particularly in safety, where the onshore project has just reached 60 million hours without an injury involving lost time.

Qatargas 4 combines Shell’s global leadership amongst private energy companies in liquefied natural gas (LNG) with Qatar’s vision to become the world’s leading LNG exporter. QP is a 70 per cent shareholder in Qatargas 4, with Shell holding 30 per cent.

Jorma Ollila, Chairman of Shell, said, “Shell is proud to have been chosen by the State of Qatar as its partner in Pearl GTL and Qatargas 4 and we intend to live up to that trust.”

Peter Voser, Chief Executive Officer of Shell, noted that Shell is developing a long-term, trusting and mutually-beneficial relationship with the State of Qatar. “This country is vital for the future of Shell and I believe we are making a valuable contribution to the achievement of Qatar National Vision 2030. Holding the Board meeting here underlines the importance of Qatar to Shell,” he said.

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