ENOC’s 25-year journey and beyond: A rich past, an inspiring future

January 23, 2019 6:26 pm


When ENOC was first established in 1993, it had a payroll of just 200 employees. Back then, its management explored the potential of Dubai’s energy assets using primitive maps to navigate dusty roads. A lot has changed over the past 25 years. The payroll has increased to more than 11,000 employees. The group now also boast of first-rate infrastructure projects, compact fuel stations, and the ability to cater to an ever-increasing demand for fuel in the UAE – with a population surge that is expected to hit 10.41 million by 2020.

The ENOC Group generated $13.8 billion in economic value for Dubai in 2016 and recorded a total of 249 million barrels in 2017. The group has tied itself closely to Dubai’s impressive growth story, fulfilling the emirate’s energy needs through uninterrupted supplies.

“Commissioning and acquiring more terminals and operations regionally and internationally are among the top milestones in in ENOC’s journey over the past 25 years,” said Ahmad Sharaf, Board Member, ENOC.

“Part of ENOC’s growth is a result of the Group’s commitment to investing in key infrastructure projects that enable Dubai’s continuous growth, and the refinery expansion is one such example,” Ahmad Sharaf added.

The group now has a presence in more than 60 countries. It has more than 30 subsidiaries involved in exploration, production, refining, processing, lubricant blending, storage, aviation and retail.

 

 

Looking to the future

At a time when lower oil prices have forced most of the world’s energy companies to rein in their expenditures, ENOC has had the strategic capacity to broaden its scope. Up to 2021, the Group will focus on expanding capacity to support domestic energy demand in line with Dubai Plan 2021 and in preparation for Expo 2020. This includes a 50 percent capacity increase at ENOC’s Jebel Ali refinery to reach 210,000 barrels per day. ENOC’s forward-looking plans also includes the construction of Project Falcon’s 16km jet fuel pipeline extension to Al Maktoum International Airport.

The group also plans to expand its retail network within the UAE to deliver an increasing range of offerings, including non-fuel and other supplementary services. It aims to complete ongoing renovation of major service stations in Dubai and construct 54 new stations by 2020, adding to the group’s existing 117 stations.

“People are at the heart of ENOC – their skills, knowledge and passion enable the organization to break new ground in Dubai and beyond. As we look at the next 25 years, to achieve the vision of wise leadership in promoting sustainable and comprehensive development in Dubai, continually enhancing the talent of ENOC’s employees will be one of our top priorities. We are expanding our teams of talented UAE nationals, who will be the backbone of the knowledge economy that our wise leadership wants to achieve,” said Saeed Mohammed Al Tayer, Vice Chairman, ENOC.

Read more on ENOC’s incredible 25-year journey

 

Transformation towards renewables

Smart energy management and the gradual transformation towards adopting renewables will underpin Dubai’s transformation into a low-carbon economy. Keeping this in mind, ENOC has embarked on the transformation of its existing infrastructure – inaugurating the first solar-powered service station in the UAE. It also plans to include solar photovoltaic (PV) panels in all its future service stations leading up to 2020.

ENOC projects that it will recoup the AED 36 million (US$ 10 million) cost of the solar installation in a matter of six years –  two years earlier than expected – due to the higher-than-anticipated rate of power generation from the solar panels. The return on the investment will accelerate as the cost of technology continues to slide.

 

Major milestones in 2018-2019:

  • January 2019:            ENOC concludes 2018 with five new service station
  • December 2018:        ACDelco announces long-term partnership with AutoPro
  • December 2018:        ENOC extends RFID technology services across DP World’s Terminals 2 and 3
  • December 2018:        ENOC launches first compact fuel station in Dubai
  • November 2018:        ENOC recognized at the Golden Peacock Awards
  • October 2018:            ENOC completes first fully solar-powered lubricants blending plant in UAE
  • October 2018:            ENOC and Microsoft team up to pilot AI-powered service station of the future
  • October 2018:            ENOC Group signs agreement with Enemed to strengthen presence in Malta
  • October 2018:            ENOC Group expands its marine lubricant footprint to Europe
  • September 2018:       ENOC expands network with five new service stations in Dubai
  • July 2018:                   ENOC opens new service station in Al Barsha
  • June 2018:                  ENOC Group expands its jet fuel operations in Nigeria
  • May 2018:                   ENOC Group hosts first joint Retail Fuel Industry Safety Conference
  • May 2018:                   ENOC Group announces sales volumes of 249 million barrels in 2017
  • May 2018:                   ENOC Group opens third solar powered service station in Discovery Gardens
  • March 2018:               ENOC Group opens first of 16 new stations scheduled for 2018
  • February 2018:          ENOC Group explores investments in Egypt
  • February 2018:          ENOC inaugurates its largest service station in Saudi Arabia

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Anup Oommen
By Anup Oommen
Anup Oommen is a Business Editor at MediaQuest Corp. He has been a journalist for the last eight years and has extensive insight and expertise in international relations, macroeconomics, sports and financial news.



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