GlassPoint Solar appoints senior vice president

Muscat: GlassPoint Solar, the leading supplier of solar to the oil and gas industry, has announced the appointment of energy finance expert Nazar Al Lawati as senior vice president of project development, International.
Al Lawati, who most recently served as chief financial officer of the state-owned Oman Oil Refineries and Petroleum Industries Company (Orpic), will lead GlassPoint’s growth in the Middle East region. His mandate includes fostering partnerships with strategic and international partners to develop and finance large-scale solar enhanced oil recovery (EOR) projects.
“I am delighted to be part of an industry leader that is paving the way for solar deployment across the region,” stated Nazar Al Lawati.
“GlassPoint’s technology offers significant economic and environmental benefits to the local economies where we operate. Using solar to produce steam for EOR can reduce an oilfield’s gas requirements and corresponding carbon emissions by up to 80 per cent. Significant value can be extracted from the saved gas through export or by using it to fuel industrial projects and provide feedstock to the petrochemical industry.”
“By harnessing the sun’s rays, the Sultanate and other countries in the Middle East can recover heavy oil sustainably while also reducing production costs. GlassPoint’s solution can produce steam for a lower cost than steam made from burning natural gas,” AL Lawati added.
Nazar joins GlassPoint with over 17 years of financial management experience in the energy and consumer sectors. During his tenure at Orpic, one of Oman’s largest and most rapidly growing businesses in the Middle East oil industry, he supported the company in securing major funding deals. This included raising $3.8 billion for Orpic’s Liwa Plastics Industries Complex Project, $2.8 billion for the Sohar Refinery Improvement Project and $900 million in corporate debt. Prior to that, Al Lawati worked with Royal Dutch Shell in Abu Dhabi where he was in charge of finance for the company’s non operated ventures in Abu Dhabi and Pakistan. He also held a number of financial roles with Unilever in the United Arab Emirates and Saudi Arabia.