ENOC Group signs JV with Proserv Egypt to esablish ‘ENOC Misr’

UAE-based Emirates National Oil Company (ENOC) Group has signed a joint venture (JV) agreement with Proserv Egypt to set up ENOC Misr, its first on-ground operations in the lubricants sector in Egypt.

The agreement marks ENOC Group’s physical presence in Egypt as part of its wider plans to expand its internationally into key markets, including Africa. It is through this JV agreement, that ENOC Misr will market and distribute ENOC’s full range lubricants to the commercial, industrial and marine sectors locally in the Egyptian market.

His Excellency Saif Humaid Al Falasi, Group CEO, ENOC, said, “Over the last 25 years, ENOC has contributed significantly to the UAE’s socio-economic progress, and has played a key role in the development of key infrastructure required to fulfil the country’s energy needs. We are proud to establish ENOC Misr as it offers a unique opportunity for knowledge sharing between us and industry experts like Proserv Egypt.

“Over the past years, Proserv. Group and Proserv Egypt both succeeded in offering a diverse portfolio of lubricants for commercial, industrial and marine use to customers across Egypt, with the help of its highly skilled sales and marketing team. With hard work and sold planning, Proserv. has managed to establish a well-maintained and highly secured network of warehouses, best in the class branded fleet, and a robust logistics infrastructure to meet customers’ needs in all 28 Egyptian governorates,” noted Said Ahmed Hashem, Chairman, Proserv Group.

According to Hashem the partnership with ENOC to establish ENOC Misr is a strategic move in line with their efforts to further enhance their market offering and explore new opportunities. “We are confident that ENOC Misr will be a key game changer in the future of Egyptian downstream market,” added Hashem.

ENOC’s product portfolio has been known to include a diverse 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 distributorship footprint spans over 60 Markets in the Middle East, Indian Subcontinent, South & Central Asia and Africa.

According to the company, they are also aiming at leveraging their diverse product portfolio that caters to the entire energy value chain on the back of their existing lubricants and aviation fuel business in Egypt.