Half a century of the Arabian Drilling Company
Under the auspices of His Excellency Eng. Ali Ibrahim Al Naimi, Saudi Arabia's Minister of Petroleum and Mineral Resources, the Arabian Drilling Company celebrated its 50th anniversary in the city of Al-Khobar. His Excellency Naimi is accompanied by His Excellency Abdul Rahman Abdul Karim, Engineer Khalid Al Falih, CEO of Saudi Arabian Oil Company (Aramco), Mr Abdullah ibn Nasir Al Hilal, CEO of Aramco Gulf Operations Company and a number of Saudi Aramco VPs and senior officers, in addition to a number of businessmen from the Eastern Province. His Excellency the Minister and the distinguished quests were received by Mr. Mohammad Yousif Rafie, chairman of the board of directors of Arabian Drilling Company, and the company's two managing directors Mr Saad ibn Abdullah Al Saab and Mr. Mohammad Umar Loan.
The celebration included a documentary film which embodies the stages of company operations development. At the end of the celebration party, commemorative gifts were exchanged by senior guests.
Established in 1964, the Arabian Drilling Company (ADC) is a Limited Liability partnership between the Industrialization & Energy Services Company (TAQA) which owns 51 percent, a Saudi government oilfield services company and Services Petroliers Schlumberger SA , a global leader in oilfield services which owns the remaining 49 percent.
Currently, major clients of the company include the Saudi Arabian Oil Company (Saudi Aramco) and the Joint venture in Al Khafji between Kuwait Gulf Oil Company (KGOC) and Aramco Gulf Operations Company (AGOC) of Saudi Arabia.
The company owns a number of rigs that work efficiently in various climatic and environmental conditions. This has enabled the company to effectively handle different work challenges. The company owns 16 land drilling rigs that vary between heavy duty rigs (1,500 hp) and extra heavy duty (2,000 to 3,000 hp). The company owns seven marine rigs (large and extra-large), all of them are equipped with high standard specifications that enable them to operate off-shore up to 400 feet deep (almost 120 metres). Additional equipment includes two multi-purpose self-driven marine platforms for oilfields services and testing. Recently, the Arabian Drilling Company was able to build two large offshore rigs which were manufactured according to the specifications and requirements of the companyÃ¢â‚¬â„¢s clients in Saudi Arabia. The company says it is actively seeking to expand rig fleet at a rate of four rigs annually, according to companyÃ¢â‚¬â„¢s prediction of market data and requirements.
5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly
Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.
Here, Business Chief talks to Janthana about her leadership style and skills.
What do you do, in a nutshell?
I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.
How would you describe your leadership style?
I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.
What’s the best leadership advice you’ve received?
Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.
How do you see leadership changing in a COVID world?
I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.
They say ‘from every crisis comes opportunity’, what opportunities do you see?
The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless.
What advice would you give to your younger self just starting out in the industry?
Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.