Fraz Malik

Presented by: 

Immersed in oil and gas since childhood as the son of an accountant for Pennzoil, Fraz Malik envisioned himself as a legal subject matter expert in the industry—“an indispensable member of a team [who] could provide sound advice.” It didn’t take him long to get there. His team manager selected him as an emerging talent, which positioned him for opportunities to lead people and projects, and expose him to prominent leaders in the organization to learn what makes them great leaders. “While I have hit many small milestones throughout my career,” he says, “I believe being identified as an emerging leader and continuing to develop is taking me on the pathway towards my next and larger milestone.”

What qualities do you think are necessary to be a good leader in the oil and gas industry?

Communication and integrity are key proponents of becoming a good leader. Creating a workplace culture where it is safe to speak up and discuss items without judgment is motivating.

What professional and/or personal advice would you give other young professionals?

I would tell young professionals to be intellectually curious and to be flexible and adapt to change. The oil and gas industry is constantly changing and it is important to be able to adapt and transition quickly. I also believe it is important to challenge the norms and perspectives to come up with new and creative ideas as a part of the energy transition.

What keeps you motivated and passionate about working in the oil and gas industry?

I absolutely enjoy working in the oil and gas industry because of the direct impact it has on our day-to-day lives. In particular, working within trading and supply, there have been various challenges, such as working within a complex geopolitical landscape during a time of heightened tensions. Tackling these novel challenges and navigating the regulatory landscape is exciting and rewarding.

What do you think young industry members as a group have to offer that is unique to them?

I believe that young industry members under 40 come in with a unique perspective as they ask the question: why are we doing the same thing we’ve been doing for the last 10 years? At times, I believe professionals within the oil and gas industry have gotten used to doing things as they’ve always been done and processes may not have been challenged before. I believe the professionals under 40 ask questions and are trying to streamline things, whether it be through artificial intelligence and machine learning or through simplifying antiquated processes.

Which transformations—approach, culture, technology or other—do you think the industry must undertake for it to thrive in the future?

I believe the industry is already undergoing a digital transformation, however, as this is occurring, it will be important for the oil and gas industry to be able to adapt to changes quickly. As technology rapidly develops, there will be use cases for automation, artificial intelligence, and blockchain technology. Oil and gas companies should anticipate some of these changes (and the associated regulatory space) instead of reacting to changes.

Take a look at the rest of the Forty Under 40 2024 winners.