ABU DHABI - The Abu Dhabi Investment Authority.

ADIA is the third most powerful institution in Abu Dhabi next to the Executive Council and the SPC. Although it is headed by young Shaikh Ahmad Bin Zayed, its decision making mechanism is overseen by Ahmad Bin Khalifa Al Suwaidi, who represents Shaikh Zayed on the SPC, the boards of ADIA and

The Abu Dhabi National Oil Co. (ADNOC) is in charge of implementing SPC decisions and forms the second tier of power. It has authority on day-to-day basis over the petroleum sector in Abu Dhabi, deciding how SPC decisions must be executed. ADNOC is in a position to advise and recommend to the SPC by using its experience - for example, by suggesting which is best among available options for a project and why.

ADNOC went through a massive restructuring process from October 1998 to mid-1999. The aim was to improve efficiency and prepare the company for future challenges. It has since become a holding concern conducting its business as an integrated entity, through eight autonomous directorates:

1. The E&P Directorate, under Abdullah Bin Nasser Al Suwaidi and in charge of the upstream, consists of four divisions: E&P Planning, Petroleum Resources, Onshore and Offshore. They have to "plan, guide and drive for the discovery and optimal development of Abu Dhabi's petroleum resources through exploration in own, joint venture or other concession areas", as determined by the SPC. Suwaidi led a five-member team which oversaw ADNOC's restructuring.

Under this directorate come four operating subsidiaries: the onshore JV ADCO, headed by Kevin Dunne; the main offshore JV ADMA-OPCO, headed by Henry Bacconnier; the offshore ZADCO, headed by T. Shimamura; and National Drilling Co., headed by Najeeb Al Zaabi (see profiles of the operating companies in Gas Market Trends No. 2).

2. The Gas Processing Directorate, under Rashid Bin Saif Al Suwaidi, is in charge of the gas plants and JVs. Under it come the onshore NGL/LPG JV Gasco, headed by Saif Bin Nasser Al Suwaidi; the LNG JV ADGAS, headed by Rashid Al Jarwan; and the newly created, wholly-owned Abu Dhabi Gas Co. (Atheer) which is headed by Mohammed Bin Rashid Al Otaiba.

3. The Chemicals Directorate, under Abdullah Bin Saeed Al Badi, is in charge of the chemicals sector - now the Borouge olefins JV (60% ADNOC & 40% Borealis), which is headed by Joost Schrevens, and the fertiliser producer Fertil which is headed by Abdel Hakim Al Suwaidi.