“Over the past 20 years, we’ve experienced steady growth year after year. Today, XP Group is a mature company with a solid technical and financial foundation. We have clear processes implemented and strong local teams. One of our greatest strengths is our people, our top 20 executives have been with us for more than 15 years, and that kind of loyalty and consistency is rare,” Ghiath Sukhtian, Expert Petroleum’s (XP) Chairman told The Diplomat-Bucharest.
“XP’s objective is not only to boost production and increase reserves but also to address environmental concerns. XP is playing a crucial role in reducing the environmental footprint of mature fields. The company’s efforts, notably through its recently launch XP Upgreen business line, contribute to minimizing methane emissions through efficient surface facilities management, and implementing sustainable practices that align with global energy transition goals. XP Upgreen supports oil and gas operators decarbonize their operations. The feedback received from our partners has been very positive, and it shows the growing demand for sustainable solutions.”
You have a remarkable career as an entrepreneur and investor across diverse business sectors. Could you tell us more about GMS Holdings and your broader journey in building and investing in successful businesses globally?
“Over the past 60 years, I’ve been fortunate to build and lead companies across the MENA region first and globally now in sectors such as pharmaceuticals, telecommunications, agriculture, and oil and gas. Our group has always been driven by a long-term vision and the belief that sustainable value comes from innovation, service quality, people, and strong governance. Today, all our investments—spanning several continents—are managed through our family office, GMS Holdings, which oversees a diversified portfolio of nearly $1 billion in global assets.”
What initially convinced you, two decades ago, to invest in Expert Petroleum—now XP Group? What made this opportunity stand out among your many ventures?
“When I first met the two founders of Expert Petroleum—both former Schlumberger executives—I was struck by their professionalism, complementary skills, and the clarity of their vision. They believed in building something different: an oil and gas operating company focused on revitalizing mature fields with a unique business model, positioned between traditional E&P companies and oilfield service providers.
Their strong values—centered on people, operational excellence, and a long-term view—deeply resonated with me.
The company’s initial European footprint also provided a lower-risk entry point, which was important for stability at the early stage. It was clear they were onto something innovative—and they proved it.”
Over the past 20 years, you’ve been both an investor and Chairman of the Board. How would you describe your experience helping guide XP Group through its key milestones and challenges?
“Like any entrepreneurial venture, the early years had their share of challenges. But we remained patient, and the management team showed remarkable resilience and adaptability.
Over the past 20 years, we’ve experienced steady growth year after year.
Today, XP Group is a mature company with a solid technical and financial foundation. We have clear processes implemented and strong local teams. One of our greatest strengths is our people, our top 20 executives have been with us for more than 15 years, and that kind of loyalty and consistency is rare.
It’s been a rewarding experience to be part of such a journey. In each country we operate we empower local teams in order to take the best decisions to drive operational excellence.
We provide our people with opportunities to grow so they can perform at their best. We started by training our people in the early stages of our organization, then supported them by working alongside more experienced colleagues who acted as mentors.”
Many investors look for exit strategies, but XP seems to be a long-term commitment for you. What drives your continued confidence in the company’s future?
“We’re not thinking about an exit—on the contrary, we’re more committed than ever.
XP has significant growth potential not only in Europe, but also in Central Asia and the Middle East—where our group has been active for over 75 years.
XP’s objective is not only to boost production and increase reserves but also to address environmental concerns. XP is playing a crucial role in reducing the environmental footprint of mature fields. The company’s efforts, notably through its recently launch XP Upgreen business line, contribute to minimizing methane emissions through efficient surface facilities management, and implementing sustainable practices that align with global energy transition goals. XP Upgreen supports oil and gas operators decarbonize their operations. The feedback received from our partners has been very positive, and it shows the growing demand for sustainable solutions.
We’re proud of what XP has become—and we’re ready to support it for the next 20 years and beyond.”
Ghiath Munir Sukhtian, chairman of GMS Holdings, and of the Board of XP Group, is an entrepreneur who has built and invested in several regional and international businesses over the past 60 years in different fields such as pharmaceuticals, agribusiness, telecommunications, oil and gas, contracting and others.
GMS Holdings is his family office investment group with deep roots in the MENA (Middle East and North Africa) region dating back to 1932. It is today a USD 1 Billion group of diversified businesses and assets around the world. GMS Holdings approach its investments with a global perspective and are driven by a firm belief that superior results are achieved through a commitment to long term growth.
