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Shell Mubadala

Mubadala Development Company, a wholly-owned investment and development vehicle of the Government of the Emirate of Abu Dhabi, and Shell Abu Dhabi B.V. (“Shell”) signed a Learning and Development cooperation agreement today to cooperate in providing learning and development opportunities in energy-related disciplines to selected UAE nationals.

21 September 2006

Mubadala & Shell Sign Learning & Development Agreement

Mubadala Development Company, a wholly-owned investment and development vehicle of the Government of the Emirate of Abu Dhabi, and Shell Abu Dhabi B.V. (“Shell”) signed a Learning and Development cooperation agreement today to cooperate in providing learning and development opportunities in energy-related disciplines to selected UAE nationals

Mubadala will select a number of candidates to participate in Shell learning and development initiatives, which include a Premium Degree Program for post-graduate degrees at a renowned university; as well as internships and development assignments in Shell and participation in Shell training events.

The agreement was signed in Abu Dhabi by Waleed Ahmed Al Mokarrab Al Muhairi, Chief Operating Officer of Mubadala and by Dr Mohamad Defrawi, Managing Director, Shell Abu Dhabi. Speaking at the signing, Mr Al Muhairi said “This Agreement, while implementing a key objective in our strategic alliance with Shell, is in line with the vision of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, to build a knowledge-based economy by providing advanced education and specialized skills to young professionals in the UAE”.

Dr Defrawi said, “We are looking forward to strengthening our ties with Mubadala in the area of Learning & Development. Shell is committed to supporting Mubadala in developing UAE nationals, as we place a very high priority on helping further equip candidates to contribute to the development of their country.’

This agreement is part of the strategic alliance formed last year between Mubadala and Shell to cooperate in the economic development of new and existing hydrocarbon resources, pursue research and development of economically viable and environmentally acceptable energy solutions in the Middle East & North Africa, outside Abu Dhabi, and provide Learning and Development opportunities with Shell to enhance the professional development of select UAE nationals.

About Mubadala

Mubadala Development is a Public Joint Stock company, established and wholly owned by the Government of the Emirate Abu Dhabi. Its mission is to invest in commercially-viable, strategic, industrial and commercial partnerships.

The company manages a diversified portfolio of local, regional, and international investments. International investments include the Dutch fleet management giant LeasePlan Corporation (25% stake), and a stake in nine oil exploration blocks in Libya. Stakes are also held in the Swiss aircraft and engine services provider SR Technics (40%), the Italian luxury car manufacturer Ferrari (5%), and Piaggio Aero Industries (35%).

In the United Arab Emirates and wider Gulf region, Mubadala Development has invested in, and developed, a number of leading projects including the first GCC cross-border natural gas project, Dolphin Energy (51% majority stake), Aldar Properties, National Central Cooling Company, Abu Dhabi Ship Building, Imperial College London Diabetes Center in Abu Dhabi, Injazat Data Systems, and the Mukhaizna Oil Field developments in Oman.

Mubadala Development signed a joint development agreement with Dubai Aluminum Company (DUBAL) to develop, construct, own and operate a USD6-billion world class green-field aluminium smelter complex with 1.2-million tone capacity a year at the Khalifa Port and Industrial Zone in Abu Dhabi.

Mubadala Development is also leading the development of the UAE University’s new campus in Al Ain City through a public-private partnership initiative.

Mubadala Development also prides itself on the creation of numerous strategic alliances and associated projects. Current alliance partners include Dubai Aluminum Company (DUBAL), Rolls-Royce, and Shell.

Media Contacts:
Sana Bardawil Abdulla Khouri
Shell Abu Dhabi Mubadala Development
Tel: 02 614 8722 Tel: 02 6160100