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Enoc to boost presence in maritime industry
DUBAI - Emirates National Oil Company (Enoc) is pursuing further growth in the maritime industry and may be involved in the launch of a major new concern by the end of this year.
News of the impending project was delivered by Hussain Sultan, Enoc chief executive and board member, to industry delegates at the Middle East Petroleum and Gas Conference being held in Dubai this week. In his welcome address to the conference, which is hosted by Enoc, he said the wholly-owned by the Government of Dubai group saw many opportunities remaining in the petroleum and gas business, and new ones arising with the re-emergence of Iraq's oil market.
Sultan said: "These will be both through direct upstream involvement but also in the vital supply industries, such as shipping," adding that Enoc may soon further expand its shipping portfolio to complete its subsidiary Dubai Shipping Company, which now boasts one of the region's fastest-growing fleets. He said: "Enoc has even bigger ambitions in the maritime industry which we hope to pursue with the launch of a major new concern by the end of this year."
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