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Enoc, Adnoc sign deal for transfer of Sharjah facilities

Dubai: Emirates National Oil Company (Enoc) 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.

Saeed Khoory, chief executive officer of Enoc, signed the agreement with Abdulla Salem Al Dhaheri, chief executive officer of Adnoc Distribution at a ceremony in Dubai. Under the agreement, Adnoc Distribution will conduct the preliminary evaluation and overhaul of the 25 service stations in a phased manner. Following this stage, Adnoc Distribution will begin rebranding the sites and then commencing operations of the service stations under its own network.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.”

He added: “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.”

— business@khaleejtimes.com