FILE – ENOC
CAIRO – 18 February 2019: ENOC Group announced Monday signing a joint venture (JV) agreement with Proserv Egypt to set up ENOC Misr, to become its first on-ground operations in the lubricants sector in Egypt.
The company clarified in a press release that the agreement marks ENOC Group’s physical presence in Egypt as part of its wider plans to expand internationally into key markets, including Africa.
As per this agreement, ENOC Misr will market and distribute ENOC’s full range lubricants to the commercial, industrial and marine sectors in the Egyptian market.
“Over the last 25 years, ENOC has contributed significantly to the UAE’s socio-economic progress, and has played a key role in the development of key infrastructure required to fulfill the country’s energy needs. We are proud to establish ENOC Misr as it offers a unique opportunity for knowledge sharing between us and industry experts like Proserv Egypt,” Group CEO, ENOC Saif Humaid al Falasi said
“Our partnership with ENOC to establish ENOC Misr is a strategic move that comes in line with our efforts to further enhance our market offering and explore new opportunities. We are confident that ENOC Misr will be a key game changer in the future of Egyptian downstream market,” Chairman of Proserv Group Ahmed Hashem said.
According to ENOC’s website, ENOC’s product portfolio includes a diverse offering of lubricants services and products, in addition to jet fuel, liquefied petroleum gas (LPG), bulk fuel, aviation, marine and alternative fuel such as compressed natural gas (CNG).
The Group’s products are distributed in over 60 markets in the Middle East, Indian Subcontinent, South & Central Asia and Africa.
ENOC Group will also leverage its diverse product portfolio that caters to the entire energy value chain on the back of its existing lubricants and aviation fuel business in Egypt with the potential to additionally serve other projects across key sectors in Egypt and other countries in the future.
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