Fred Holc – GC Powerlist
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Saudi Arabia 2025

Energy and utilities

Fred Holc

Director – Upstream Law Department | Saudi Aramco

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Saudi Arabia 2025

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Fred Holc

Director – Upstream Law Department | Saudi Aramco

What are the most significant cases and transactions that you have been involved in over the past year?

Establishment and global expansion of Aramco’s LNG business (through international M&A), establishment of a mining business (transition minerals), overseeing the company’s upstream operations (exploration, engineering, production, etc) and involved in a number of restructurings.

Based on your experience, what is the key to collaborating successfully with business partners?

Being a very competent lawyer is the foundation, but that is not enough. Understanding the technical and commercial aspects of their business as well as being proactive and solution oriented is the second component. It is also absolutely key to be seen as a valuable business partner, as opposed to a ‘policeman’ / ‘gatekeeper’. This builds trust and a seat at the table, which are two key ingredients of a good working relationship.

What is a cause, business-related or otherwise, that you are passionate about, and why?

I am deeply interested in business, such as understanding and shaping the strategy, value drivers, governance, processes, etc. I also have an obsession with efficiency, finding the most efficient way to design a process or approach a complex task. Combining these two together, has led me on a number of journeys of building and restructuring legal teams for major organisations. I really enjoy analysing the business structures and needs of a company and then shaping the legal framework, which includes structuring and positioning of the legal department, designing the governance structures, creating processes and standards for transactions, etc., to best fit the needs of that particular business in the most efficient way.

Are the effects of AI on the legal world overplayed, or underplayed?

AI is a step-change that will exponentially improve the efficiency and accuracy of legal services. This will in the medium term bring great benefits to the industry, but in the long term will completely disrupt it. Currently, ChatGPT, and the like, are not yet equipped to handle legal tasks as they have not been given access to the right data sets. A number of companies are developing law specific AI tools that will soon be very powerful. This will have a major impact on the legal industry. Initially, paralegal or trainee work will largely be replaced by AI thereby reducing the need for junior lawyers and limiting training opportunities. In the long run, many more complex legal tasks will also be replaced. I expect that many people do not appreciate the severity of the changes, and it’s not a question of if, but when.

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