Enoc Group has announced plans to expand its aviation operations in Egypt through its acquisition of a share in the jet fuel hydrant system at Terminal 2 of Cairo International Airport.
The company said it also plans to establish a physical presence by opening an office for its aviation operations and jet fuel marketing.
Enoc’s announcements follow a recent agreement with the Egyptian General Petroleum Corporation (EGPC) to enable the supply of jet fuel at all key airports across the country, providing further opportunities to drive foreign direct investments in the Egyptian market.
The hydrant system fuels 18 aircrafts at Terminal 2 and has been operational since 2017. The jet fuel hydrant system has seen investment and development from Egyptian and multinational players from the energy sectors.
Saif Humaid Al Falasi, group CEO of Enoc, said: “With an expected 5.8 percent GDP growth for 2019 and a commitment to diversify markets and products, Egypt offers strong fundamentals for international investors... We hope that our recent plans will elevate the country’s critical infrastructure.
“By joining a consortium of oil companies in Egypt, ENOC Group is now one of a select list of globally-renowned partners contributing to the country’s socio-economic growth. Our strong track-record in jet fuel operations will enable us to provide the highest standards of jet fuel operations, EHS and business performance, which will undoubtedly enable the country’s aviation infrastructure.”
Enoc’s international aviation presence was established in 2002, operating in 152 airports across 25 countries in the Middle East, Africa, South East Asia and Europe. In addition, it currently operates in Egypt through its subsidiary, Dragon Oil, which owns the East Zeit Bay offshore concession.
Terminal 2 is one of three terminals at Cairo International Airport, the country’s largest airport and Africa’s second largest.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.