H.E Saif Humaid Al Falasi, CEO of the Emirates National Oil Company (ENOC), Dubai Government's completely owned company, has been announced as the new Chairman of Gulf Energy Maritime PJSC (GEM).

In accordance with the investors' contract, the chairmanship turns every 3 years in between IPIC and ENOC-- two of GEM's significant investors. Reliable from 31st May 2016, Al Falasi will take control of GEM's leading post in its Board of Directors from Khalifa Abdulla Al Romaithi, IPIC's Director of Downstream & Diversified Investment, who will remain as a board member of the company.

"Al Romaithi assumed GEM's chairmanship throughout a very tough cycle for the shipping market, which was mainly due to stagnation and over supplied market. In the midst of these challenges, his sound management choices and strategies have made it possible for GEM to thrive amidst an ever-evolving oil and tanker market," said Ahmed Essa Hareb Al Falahi, CEO of GEM.

As the new chairman, Al Falasi will manage strategies needed for GEM to enhance its self-confidence and trust delivered through high quality services to clients as the company steps into its 12th year of continued development. GEM's fleet has tripled from 6 vessels given that beginning in 2004 to its current fleet of 19, composed of 2 Aframaxes, 8 contemporary Panamax tankers and 9 MR tankers.

Al Falasi's appointment is significant as GEM continues to stay ahead of the competitors and satisfy all commitments to its clients by supplying flawless services of the greatest of standards in safety, quality and environmental protection. His 35-year experience in the energy industry intends to additional raise GEM's standing as one of the leading product tanker operators worldwide.

"I thank the CEO of GEM and Board of Directors for trusting me with this new responsibility. With the support of GEM's Board of Directors and management, we will continue to improve the strong results accomplished to this day. Our collective focus will be to lead the business's development both locally and internationally," said H.E Saif Humaid Al Falasi, CEO of ENOC Group.

Al Falasi will spearhead both ENOC Group's and GEM's business strategies and operational quality locally and internationally. His wealth of experience and thorough industry knowledge covers a large range of specialties, including project management and petroleum asset evaluation operations.

"Looking forward, and making use of Al Falasi's proficiency, we will move more detailed in achieving our objective of broadening GEM into one of the top gamers in the market. In line with such a goal, we are seriously looking at the market for growth chances and are putting crucial methods into place," Ahmed Essa Hareb Al Falahi, CEO of GEM added.

Al Falasi joined ENOC in 2008 as Group General Manager. In 2011, he was appointed as Executive Director for Environment, Health, Safety and Quality (EHSQ) and Corporate Affairs Directorate managing the functions of essential divisions within the Group consisting of Group Legal and Group Communications in addition to EHSQ. He was appointed as ENOC Group CEO in March 2015.

Before joining ENOC, Al Falasi dealt with ZADCO as Deputy General Manager and acted as a member of the National Marine Service (NMS) Board of Directors. Prior to that, Al Falasi dealt with the ADNOC Group of business where he effectively executed several complete field advancement plans for the largest oil fields in Abu Dhabi. He is a board member of Supreme Council of Energy and the Green Energy Council.