Petrofac and the American University of Beirut (AUB) have teamed up to offer Petrofac employees a tailored Master's degree in Engineering Management. The initiative leverages the historic relationship between the two organizations to upskill Petrofac's employees and prepare them to capitalize on future growth opportunities as markets recover and the energy transition gathers pace.
The one-year master's program has been customised around topics vital to Petrofac's strategy, such as project management, financial engineering, and renewable energy. Classes commenced earlier this month and will be taught both virtually and in-person by AUB's Faculty of Engineering and Architecture. One hundred employees, comprising 11 nationalities, from the company's Engineering & Construction (E&C) business will participate in the program. Petrofac will cover tuition fees and provide a monthly support stipend to each enrolled employee while they are on leave from their duties.
Elie Lahoud, Petrofac's Group Managing Director - Engineering & Construction, commented: “I'm delighted to announce this exciting initiative with our longstanding partner the American University of Beirut. This innovative program transforms the current economic downturn caused by COVID-19 into an opportunity to invest in our talent base and equip our employees with the skills they need to capitalize on future growth."
Alan Shihadeh, Dean of the Maroun Semaan Faculty of Engineering and Architecture, commented: “This partnership is a wonderful example of our symbiotic relationship with Petrofac, a company well-known for its progressive investment in human resources. We hope to develop similar programs with other forward-looking companies that seek to retain and develop their human capital during these challenging times. This program with Petrofac will enrich our classrooms with seasoned professionals, and open doors to further opportunities for collaboration between industry and campus. It also serves our interest in becoming an increasingly 'open loop' university to which people can circle back at various points in their lives, whether to upskill, change careers, or simply satisfy a hunger for learning. We look forward to doing more."
Bacel Maddah, Professor and Chair of the highly sought Department of Industrial Engineering and Management, commented: “It has been an exciting opportunity to work with Petrofac on creating this program. I was pleased to see Petrofac interested in cutting-edge topics such as operations management, financial engineering, and renewable energy, in addition to its core focus on project management. This contributes to the faculty's vision of shaping well-rounded engineers working towards a sustainable world."