ENOC Misr, a joint venture between Proserv Group and the UAE’s Emirates National Oil Company (ENOC), signed a memorandum of understanding with local lubricant producers to consider blending and manufacturing ENOC lubricants in Egypt.
The move comes as part of ENOC Misr’s ambitious plans to maximise operational efficiency and make sure product availability in the local market. The agreement will also enable ENOC Misr to enhance its presence in the Egyptian market and provides an alternate supply choice to neighboring countries.
H.E Saif Humaid Al Falasi, Group CEO of ENOC, said: The Egyptian market is one of the largest in Africa, contributing to the continent’s lubricants consumption. With a populace of nearly one hundred million and an estimated growth rate of 2.2%, comes a constant increase in demand for lubricant products and solutions. This coupled with the country’s massive refineries and government investment approach has encouraged key industry players to proceed investing in the lubricants industry in Egypt. The decision to give a boost to our local presence via the set-up of blending and manufacturing operations in Egypt demonstrates our dedication to set up key infrastructure projects wanted to drive the country’s socio-economic growth.”
ENOC Misr will proceed to gear its efforts towards increasing its operations nationwide. The organisation operates via a network of 40 local distributors; focusing on the distribution of ENOC’s flagship petrol and diesel engine oil manufacturers within Egypt, Protec and Vulcan lubricants; as well as the provision of a broad range of multi and mono-grade products in the Egyptian market to meet vehicle necessities of petrol, motor oil and heavy-duty diesel engine oils.
ENOC’s product portfolio consists of a numerous offering of lubricants services and products, in addition to jet fuel, liquefied petroleum gas (LPG), lubricants, bulk fuel, aviation, marine and alternative fuel such as compressed natural gas (CNG). The Group’s products are dispensed in over 60 Markets in the Middle East, Indian Subcontinent, South & Central Asia and Africa.
ENOC Group will additionally leverage its numerous product portfolio that caters to the whole energy value chain on the back of its present lubricants and aviation fuel business in Egypt, with the potential to additionally serve other projects throughout key sectors in Egypt and other nations in the future.