ENOC inks Deal with ADNOC for Strategic Transfer of its Sharjah Non-operational Facilities17 December 2014
Emirates National Oil Company (ENOC), a wholly-owned entity of the government of Dubai, has signed an agreement with ADNOC Distribution for the strategic transfer of 25 non-operational service station facilities in Sharjah to ADNOC Distribution’s network.
At a ceremony held in Dubai, Saeed Khoory, Chief Executive Officer of ENOC, signed the agreement with Abdulla Salem Al Dhaheri, Chief Executive Officer of ADNOC Distribution.
Under the agreement, ADNOC Distribution will conduct the preliminary overhauling of the 25 service stations in a phased manner. Following this stage, ADNOC Distribution will commence operating the service stations under its own network, a process that will include the rebranding works at the sites into ADNOC Distribution identity.
Commenting on the signing of the agreement, Abdulla Salem Al Dhaheri said: “We express our deep appreciation to ENOC for the transfer of their non-operational service station facilities in Sharjah. The agreement validates the excellent coordination and synergy shared by the two stakeholders. At ADNOC Distribution, we are always keen to develop sustainable synergies aiming to create a better future for individuals and companies in the UAE, in accordance with our wise leadership’s vision and direction.”
Al Dhaheri added: “ADNOC Distribution continues to witness rapid growth in the domestic market, where we seek to harness our potential to develop the retail sector and meet the diverse needs of our customers across the country.”
Saeed Khoory said: “The UAE’s success story is underpinned by strong partnerships among industry leaders. Our nation has achieved all-round growth through the cooperation and collaboration of governmental entities. ENOC and ADNOC Distribution have defined their strengths in fuel retailing and have been tirelessly working to enhance the convenience of motorists in the country.
“Through this strategic agreement, we are transferring for free our non-operational sites in Sharjah to ADNOC Distribution. The optimal use of these assets will benefit ADNOC Distribution in reducing the load of their existing network in the emirate.”
The sites that are being transferred to ADNOC Distribution are located at various areas across Sharjah. The migration of these service stations reflects ADNOC Distribution’s ongoing commitment to fulfilling customer needs across the UAE.