Enoc enters deal with Malta firm; eyes projects

United Arab Emirates, October 4, 2018

Emirates National Oil Company Group (Enoc) has signed a memorandum of understanding (MoU) with Enemed, the state-owned fuel distributor and supplier in Malta, to strengthen cooperation for projects in Malta and other international markets.

Enemed Company, established in September 2014, is a wholly owned subsidiary of the state-owned Petromal Company. The company is responsible for the import, distribution and wholesale of petroleum products including the aviation sector.

As part of the agreement, Enoc Group will explore growth opportunities in Malta, and potential areas of cooperation between both companies, said a statement from the company.

These plans are in line with the group’s efforts to expand its global presence in fuel supply and distribution, it said.

Saif Humaid Al Falasi, group chief executive officer, Enoc, said: “Malta’s strategic location at the crossroads of some of the world’s busiest routes that carry over 120 million tonnes of oil products positions it as a global Mediterranean hub for shipping.”

“This presents ample opportunity for us to forge strategic partnerships to expand our global presence and strengthen our operations meet the increasing demand for fuel,” he said.

“Our partnership with Enemed will not only reinforce our growth plans in Malta, but will also strengthen UAE-Malta bilateral ties,” he added.

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