UAE- ENOC delegation visits Singapore to expand company footprint
Date
9/21/2015 7:58:37 AM
(MENAFN- Emirates News Agency (WAM))
DUBAI 21st September 2015 (WAM) -- A delegation from Emirates National Oil Company ENOC has visited Singapore to evaluate the company's business growth and expand the company's footprint in important international markets.
The delegation was led by Saeed Mohammad Al Tayer Vice Chairman of ENOC Group of Companies Saif Al Falasi Group CEO of ENOC and Tayyeb Al Mulla Managing Director of ENOC Supply Trading and Processing STP.
A detailed presentation was made to Al Tayer and the delegation on the company's presence in Singapore. The delegation also visited the Horizon Terminal at Jurong Island majority owned by ENOC and managed by the ENOC team.
Speaking on the occasion Al Tayer said "I am impressed with the performance and the professionalism of our team members. It is crucial that we remain focused on teamwork and continued growth which are key ingredients for assured success. We will continue to explore opportunities to strengthen our international footprint that will contribute to creating long-term value."
Singapore is a key market for ENOC where it currently owns ENOC Singapore as part of its STP business and Horizon Singapore Terminals Private Limited. ENOC Singapore was founded in the year 2000 as the first international trading office of ENOC Group of Companies. It was also the first Middle East national oil company to set up a fully-fledged trading operation in the country.
"ENOC Singapore was established as a trading window for ENOC and it has been the most successful international office. Along with Horizon Singapore Terminals the operations have consistently delivered great results for the company. Both offices have a competent and capable team and are significant contributors to ENOC's bottom line" Al Falasi said.
Through the visit the Board gained a strong perspective on how the businesses have become successful and to benchmark best practices for future expansion plans.
Tayyeb Al Mulla said "The STP team in Singapore places a strong focus on business development and growth to support the company's international expansion strategy. Since its inception ENOC Singapore has grown from strength to strength and has made rapid strides and achieved recognition as a Global Trader under the Global Trader Programme from the International Enterprise Singapore. We have also been ranked as one of Singapore's top 1000 companies for the last five years."
Horizon Singapore Terminals is an integral component of ENOC's international footprint. The strategic location of the terminal on the south-western quadrant of Singapore provides smooth marine traffic movements for tankers that call at the terminal ranging from Very Large Crude Carriers VLCC to small bunker barges.
The terminal caters for the storage handling and blending requirements of National Oil Companies Oil Majors Traders and Bunkering companies and is designed for multi-berth discharge and loading operations to maximise throughput capacity for its clients.
WAM/Esraa/Moran