Emirates National Oil Company (ENOC) group has signed a memorandum of understanding (MoU) with Maltese company Enemed to strengthen cooperation between the two companies, the company announced in a press release.
Enemed is responsible for the import and supply of petroleum products in Malta, and is a subsidiary company of the state-owned Petroleum Company Ltd.
The agreement comes as part of ENOC’s efforts to expand its global presence in the fuel distribution sector.
“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,” ENOC CEO Saif Humaid Al Falasi said.
“This presents ample opportunity for us at ENOC to forge strategic partnerships to expand our global presence and strengthen our operations meet the increasing demand for fuel. Our partnership with Enemed will not only reinforce our growth plans in Malta, but will also strengthen UAE-Malta bilateral ties,” he continued.