Thursday , January 24 2019

Enoc plans investments in Egypt


ENOC Group is exploring investment opportunities within Egy-pt’s energy landscape as part of its long-term strategy to expand its regional footprint.
The announcement, made on the sidelines of the Egypt Petroleum Show (EGYPS), being held in Cairo from February 12-14, was part of ENOC Group’s participation in the exhibition that has brought key stakeholders from the MENA region, Africa and
the Mediterranean to discuss business opportunities.
Seeking to expand its presence in Egypt, ENOC Group is showcasing its diverse operations and expertise in the energy sector through its wholly owned exploration and production subsidiary Dragon Oil, its lubricant product portfolio which includes high tier lubricants, greases and petrochemical products and its aviation business, one of the largest suppliers of aviation
fuel in MENA.
EGYPS has brought together Egyptian and North African government representatives and international service providers to discuss developments and opportunities in the energy sector and showcase new products and technologies.
Saif Humaid Al Falasi, Group CEO at ENOC, said, “Egypt has significant energy resources with oil and gas being among the most dynamic industries in the country, hydrocarbon production representing six percent of Egypt’s GDP, and plans to invest significantly in its petrochemicals
sector over the next five years.”
“We’re eager to share our expertise in the sector with our partners in Egypt and to contribute to the Egyptian economy. Investing in Egypt’s market, the third largest in Africa, complements our business strategy to
go beyond the UAE and our commitment to industry-leading
performance,” he added.

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