Describing his background as “interesting”, MIDF head of research Mohd Redza Abdul Rahman said Ahmad Nizam’s vast experience, ranging from crude oil to liquefied natural gas, with Petronas would enable him to fullfil his duties.
“Other than upstream-related businesses, he also has the experience in downstream business during his stint with Engen Ltd, an 80%-owned unit of Petronas in South Africa.
“I would say that he has a wealth of experience to get the job done, and I believe he can contribute greatly to the board,” he told Bernama.
Another analyst who shared similar views, welcomed the announcement that 57-year old Wan Zulkiflee Wan Ariffin is staying on as Petronas president and group chief executive officer (CEO).
Speaking highly of Wan Zulkiflee, he said Petronas needed a strong hand to drive it forward, especially since it was a key revenue contributor to the government’s coffers.
Earlier today, the prime minister’s office announced the appointment of Ahmad Nizam as Petronas chairman with immediate effect while Wan Zulkiflee would remain the president and group CEO.
Ahmad Nizam has been working in the oil and gas industry for 37 years and served Petronas in several positions for the majority of his career.
Among others, he was the managing director of Engen Ltd in South Africa and CEO from July 2010 to August 2015, and also headed Malaysia LNG Dua Sdn Bhd and Malaysia LNG Tiga Sdn Bhd from July 2004 to October 2007.
He was tipped earlier to be the likely successor to former Petronas president and CEO Mohd Hassan Marican who left in 2010 and also Shamsul Azhar Abbas, who left in 2015.
Ahmad Nizam, who currently sits on the board of directors for Universiti Malaysia Terengganu, replaced Mohd Sidek Hassan who vacated the post on June 30, 2018.
In his early years with Petronas, he held various positions as analyst, planner and project coordinator in corporate planning and finance sectors at the corporate head office from 1981 to 1987 and several positions in Petronas from 1988 to 2002.