Plans, development & expansion
The Group continues its expansion plans in the local market by increasing the number of terminals as well as external markets to enhance key activities.
The group aims to open 13 stations this year, including 8 plants were equipped and operated in Dubai and the rest until the end of the year, pointing out that the total number of stations has so far reached 19 stations as part of its expansion plans to build 54 service stations by 2020 and is expected to open 35 new stations in Dubai Over the next two years.
Said that the Group signed an agreement with the Government of Sharjah to establish 25 stations in the next five years, including 5 stations in 2019, and the value of the establishment of one station between 18 and 25 million dirhams, according to the area and production capacity totaling 450 to 625 million dirhams.
And announced the completion of the conversion of its plant to manufacture oil and lubricants in Jebel Ali to operate entirely by solar energy to become the first facility of its kind in the solar system in the UAE, in a move that reflects the company's commitment to employ renewable energy resources in accordance with the content and objectives with the strategy of Dubai Integrated Energy 2030
That the entry into the gas port project in partnership with the Bangladeshi government is still in the study phase the size of investment estimated at 600 million dirhams, noting that the ways to finance the project could come from a third party, a Japanese company as a major financier.
He said the company was also considering plans to expand in Malaysia and African markets, especially in Egypt.
CEO Said that the group is not considering the process of offering financial markets at present, while its focus is on completing expansions inside and outside the country.
Said that the Group recorded a flexible financial performance throughout the period of decline in the oil and gas sector, which was clearly reflected in the Group's ability to secure several sources of financing.
The company has formed a committee specialized in the feasibility study and sustainability projects, especially focusing on the clean energy sectors. The group has achieved a value of 40 million dirhams cash savings due to the transition to clean energy in its various new stations, adding that it spent on that sustainability from 2014 to 2017 about 59 Million on sustainable initiatives.
As part of our commitment to support the growth and development of Dubai and the UAE, we are always keen to explore all possible ways to contribute positively to the development of national industrial assets and the most important infrastructure projects. And objectives with the vision and guidance of our leadership towards diversification of energy sources.
Over the past years, we have focused on using clean energy resources that help reduce the dependence on fossil-generated electricity and thus reduce the environmental footprint, said the group's chief executive.
The installation of solar panels at the Dubai Oil Plant in Jebel Ali is the first of its kind in the UAE. Clean energy will be produced from the site to cover all of its electricity needs, and we are confident that this step will enhance the operational efficiency of the facility and help us establish new standards in Resource Management.
The inauguration of the 2nd GOTEC Oil and Gas Technology Conference and Exhibition, the organization of the Gotek Conference and Exhibition for the second consecutive year in Dubai, reinforces Dubai's position as a regional and global destination for investment in the oil and gas sector. With the latest applications and trends in the oil and gas sector, focusing on the use of technology, innovation, best practices and operational excellence.
CEO of ENOC Group, announced that the group has allocated AED 450 million to AED 625 million to build 25 terminals over the next five years in Sharjah, including 5 in 2019.
He added that the group aims to open 13 stations in Dubai this year, including 8 stations have been processed and operated and the rest until the end of the year, pointing out that the total number of stations has so far reached 19 stations as part of its expansion plans to build 54 service stations by 2020, and Thirty-five stations are expected to open in the next two years.
total number of solar power stations in Dubai is 9, which will be a general trend in the coming years after the opening of these stations in 2016. Ali Rashid Al Jarwan, CEO of Dragon Oil, The company has allocated between $ 350 million and $ 500 million (1.28 billion dirhams to 1.84 billion dirhams) to complete acquisitions in foreign markets during the coming year, pointing out that the company is currently studying several investment opportunities in North Africa, especially in Egypt and Tunisia.
the external expansions remain subject to study and approval by the Board of Directors, stressing that the company is promising and is always striving for expansion and growth, especially in light of its plans to increase its capacity and diversity and increase its operational efficiency, in return for reducing investment operating expenses.