45 new ENOC service stations to be built in Saudi in the next 5 years
The Dubai-owned Emirates National Oil Company (ENOC) Group yesterday announced major expansion plans to build 45 new service stations in the Kingdom of Saudi Arabia over the next five years. The Group’s plans are aligned with the Ministry of Municipal and Rural Affairs’ plan, which aim for the construction of over 1,200 petrol stations across the Kingdom.
All 45 ENOC service stations will be strategically built on the Kingdom’s vast network of highways that inter-connect the 13 provinces and serve as a major logistics and trade land-corridor; connecting the Kingdom to the rest of the GCC and the Middle East region. Over the next two years, ENOC’s plan will focus on building stations in the Central Region, mainly Riyadh and the Eastern province.
Saif Humaid Al Falasi, Group CEO, ENOC, said: “With Saudi Arabia’s long-term vision to diversify its economy, boost tourism and infrastructure and enhance business and trade, our plan to expand our retail network by over 220% in the next five years is aligned with the Saudi Vision 2030, which aims to reduce oil dependency, increase privatisation and implement the Saudi nationalisation scheme.”
ENOC will not only ensure extending its retail network to cater to rural parts of the Kingdom but will also provide employment opportunities to Saudi nationals.
ENOC currently operates 14 stations across the Kingdom. The Group’s future service stations will also include ZOOM convenience stores. Customers will also enjoy a variety of retail outlets such as Pronto.
The Kingdom of Saudi Arabia is the GCC’s largest market, spanning 2.15 million square kilometres and is home to over 33 million residents. Saudi Arabia has announced deals worth U.S. $50bn in oil, gas, and infrastructure services at the recently held Future Investment Initiative in Riyadh to enhance the Kingdom’s society, economy and nation.
Just last week, UAE-owned ADNOC Distribution (part of ADNOC) announced plans to commence operations in Saudi Arabia. ENOC’s announcement shows a commitment by UAE oil companies to expand into the major Saudi market.