North Sea oil and gas electrication, carbon capture and storage (CCS) and hydrogen production are just three of the items on Salman Malik’s ‘”to do” list.
But it is the opportunity to repurpose Sullom Voe, once one of Europe’s largest oil terminals, that excites him most.
Reinventing the giant Shetland facility as a showcase for ingenuity in the UK’s renewable energy industry is a priority in his new role as chief executive of Veri Energy.
Many stars have to align for Mr Malik to achieve his green goals – they will require substantial public and private sector support.
But he is not short of enthusiasm, ambition or – as he told his audience at last Thursday’s Prosper Annual Lecture at P&J Live in Aberdeen – an unshakeable determination to achieve his dreams.
EnQuest’s statement of intent
That North Sea oil and gas operator EnQuest has launched Veri as an entirely new company focused wholly on green projects, with Mr Malik at its helm, speaks volumes.
It is a major statement of intent amid widespread suspicions that some companies that continue to make money out of fossil fuels are lukewarm, despite what they say publicly, about greener energy.
It’ll take more than environment-friendly rebrandings and talk of net-zero commitments to convince sceptics that Big Energy is truly serious about change.
But EnQuest might be said to be “walking the walk” by setting up Veri and installing Mr Malik to lead the group’s energy transition.
Last week’s Annual Lecture – the first to be held under the new name for the Scottish Council for Development and Industry – was a sell-out, with 400 guests in attendance.
The audience soon realised the guest speaker, while employed by a leading oil and gas producer, is as passionate as anyone about green energy and the global race to net-zero.
He came to EnQuest 11 years ago, with a CV boasting roles in investment banking and private equity. He was Enquest’s chief financial officer, and also its managing director for infrastructure and new energy before taking on his new role with Veri late last year.
EnQuest operates Sullom Voe on behalf of a consortium of oil companies. The complex receives oil from fields east and west of Shetland before shipping it around the world.
Concerns over the terminal’s future in a declining UK oil and gas industry have been around for years.
‘Dreams can come true’
Mr Malik, who grew up in Pakistan and has worked in many different parts of the world, aims to give it a new lease of life.
He told guests at the Annual Lecture a spell working in Dubai had taught him “dreams can come true”.
And he said his non-oil and gas background had become his strength as the industry and everyone in it navigates through a “defining moment in our planet’s history'”.
Energy transition will require hundreds of billions of pounds of investment globally but deliver new economic growth, he said.
And Sullom Voe will continue to “define the economic landscape of Shetland” as a major hub for CCS, North Sea oil and gas electrification, and green hydrogen, he added.
It can also help EnQuest achieve a 90% reduction its carbon emissions, Veri’s boss said.
Guests at this year’s Annual Lecture were invited to donate cash to Instant Neighbour, which supports people on low incomes to set up home by providing access to low-cost reuse furniture, white goods, clothing and bric-a-brac.
Prosper head of events Carol Anne Grady, later emailed attendees to say: “We raised an incredible £2,720 for Instant Neighbour, and we truly appreciate your generosity in supporting this marvellous cause.”
The business group‘s next flagship event is its annual forum in Edinburgh on May 30.
Conversation