Middle East petroleum retailer Emirates National Oil Company (ENOC) has signed a
joint venture agreement with Aldrees Petroleum & Transport Services Company (Aldrees), to set up fuel outlets in Saudi Arabia.
The 50:50 JV will open 40 new service stations in different locations across the Kingdom, the first of which is scheduled to open in 2013.
ENOC chief executive officer Saeed Abdullah Khoory said the company is focused on expanding its business presence regionally and internationally, and Saudi Arabia is a strategic market that offers perfect market synergies for its growth.
"This joint venture will also create new jobs for young Saudis and we will focus on strengthening their job competencies through our training programmes, thus serving as an effective partner in the Kingdom’s Vision." Khoory added.
"The stations will also be of immense value to travellers, especially during the Hajj season."
Besides fuel retailing products, the stations will also have other lifestyle choices such as restaurants, fresh food and coffee, and convenient automotive services.
Environment-friendly products and services such as the waterless car wash and green lubricants, will also be made available at the stations.
ENOC Retail operates service stations across Dubai and the Northern Emirates.
Based Saudi Arabia, Aldrees has a network of more than 450 petrol filling stations, 1,032 tractor heads with 1,376 cargo carriers ranging from chemical/lubricant tankers, trailers, bulkers, to flat beds.