Abu Dhabi, UAE—Mubadala Investment Company, the Abu Dhabi sovereign investor, Monday said that Musabbeh Al Kaabi, CEO of the UAE Investments platform, has been appointed as the Executive Director of a new Low Carbon Solutions & International Growth vertical at Abu Dhabi National Oil Company (ADNOC) as of 16 Jan 2023.
The new Low Carbon Solutions & International Growth vertical will be focused on new energies and low carbon solutions as well as international growth in areas such as gas, liquefied natural gas (LNG) and chemicals.
The entity will focus on new energies and low carbon solutions, including the company’s renewable energy and hydrogen portfolios.
Khaldoon Khalifa Al Mubarak, Managing Director, and Group Chief Executive Officer of Mubadala, said, “Musabbeh’s leadership across the UAE and international energy industry, and his decades of delivering investments and partnerships that advance national economic priorities, uniquely position him for this senior leadership role at ADNOC.”
With Al Kaabi’s new appointment at ADNOC, Mubadala Deputy CEO Waleed Al Mokarrab Al Muhairi will serve as interim Chief Executive Officer of the UAE Investments platform.
At Mubadala, Al Kaabi served as a member of Mubadala’s Investment Committee, playing a strategic role in advising on all major investment decisions related to the full range of the Company’s sectors and businesses.
Since 2021, he has also led the UAE Investments Platform, with a mandate to support and accelerate the UAE’s economic transformation and establish industrial and commercial economic clusters. The platform’s portfolio includes global partnerships and UAE energy, metals, aerospace, technology, healthcare, real estate and infrastructure assets.
Prior to the UAE Investments Platform role, Musabbeh was CEO of the Petroleum & Petrochemicals platform from 2017 to 2020. He was responsible for Mubadala’s $40bn integrated international energy portfolio, with over ten portfolio companies operating along the value chain.
Musabbeh began his career at ADNOC, where he spent 16 years, during which he held a series of increasingly senior technical and managerial roles, rising to lead ADNOC’s Exploration Division.
