Project Sydney

Employee Services Portal (Tayseer)
July 24, 2019
2018 Annual Sustainability Report
July 24, 2019

Project Sydney

Project Sydney was informally initiated between ADC and Schlumberger post signing of the Share Purchase Agreement (SPA) on April 11, 2019. Both of the companies started interacting with Deloitte to establish Project Governance Model.
On April 24, 2019 Moelis & Company organized a meeting with ADC’s Management and Integration Leads and their teams with the following agenda:
• Summary of Legal Due Diligence presented by White & Case
• Summary of Tax Due Diligence presented by Deloitte
• Summary of Financial Due Diligence presented by Moelis & Company
• Separation Plan presented by Deloitte
Project Sydney was officially signed in a Ceremony hosted by TAQA on the 28th of April 2019 in Convention Center at Sheraton, Dammam.
Immediately after the post signing ceremony, ADC’s Management initiated kicked off for three days of Sydney Integration and Separation Workshops at The Meydan Hotel, Dubai, U.A.E. From the 30th of April 2019 till the 2nd of May 2019. Following were the attendees of the workshop with Deloitte facilitating the three day workshops:
• ADC Managing Directors
• ADC Integration Manager
• ADC Integration Management Office
• ADC Integration Leads and their key team members
• TAQA
• Schlumberger Integration Manager
• Schlumberger Integration Leads
• Deloitte Integration and Separation Team
• Moelis & Company
• White & Case

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