ENOC Group Unveils Five-pillar Growth Strategy To Fuel Long-term Sustainable Vision

(UrduPoint / Pakistan Point News / WAM - 23rd Mar, 2023) DUBAI, 23rd March, 2023 (WAM) – The ENOC Group, which achieved its best-ever performance in 2022, has unveiled a long-term growth strategy to meet the increasing demands for sustainable energy solutions locally and globally. The strategy is based on five pillars, including Proactive Improvement, Asset Optimization, Think Customer, Integrated Value Chain and Growth, and Diversified Energy Solutions, aimed at delivering world-class, integrated, and sustainable energy solutions.

The Proactive Improvement pillar aims to enhance operational efficiencies to achieve cost savings, while the Asset Optimization pillar seeks to profitably and sustainably grow the Group's capabilities across all operations. Under the Think Customer pillar, the Group aims to drive retail expansion by introducing customer-focused initiatives and delivering unsurpassed experiences. The Integrated Value Chain and Growth pillar will foster a culture of collaboration across the entire value chain, optimize supply-demand balance, and launch transformational ventures. The Diversified Energy Solutions pillar will position the Group as a key player in the new energy economy, investing in energy transition technologies to meet clean energy demands in the future.

The Group plans to achieve its goals through operational efficiencies, collaboration, and implementation of digital technologies, delivering a seamless experience across the energy sector value chain.

Saif Humaid Al Falasi, the Group CEO of ENOC, has expressed his satisfaction with the significant progress made by the ENOC Group in 2022. According to him, the Group achieved remarkable milestones in terms of production capacity, financial excellence, and overall growth. He also highlighted the progress made in advancing the Group's sustainability ambitions and the implementation of its digitisation journey to drive innovation and meet customers' needs amidst rapid technological changes.

Al Falasi outlined the Group's strategic direction, which is centred around five pillars, and the importance of the "One ENOC" principle to work collectively to deploy the strategy, track and measure progress, and maintain financial discipline and flexibility.

He further emphasised that the numerous awards the Group received in 2022 for innovation, sustainability, and digital capabilities were a testament to its efforts to drive sustainable value in the energy sector.

ENOC's commitment to sustainability was recognised with the Golden Peacock Award for Sustainability for the fifth consecutive year in 2022, while its subsidiary, Emirates Gas, received the Dubai Chamber of Commerce and Industry CSR Label Award for the 11th consecutive year, highlighting its strong CSR culture.

The Group’s efforts in seeking innovative solutions to reduce emissions and achieve climate neutrality saw its participation in the Emirates Airlines test flight by securing, blending, and loading SAF (Sustainable Aviation Fuel). Furthermore, the Group also became the first to implement the latest Smart Fuel Supply Management System in the UAE.

Throughout the year, ENOC focused on ensuring employee safety and business continuity and maintaining asset integrity. It expanded its talent pool with the announcement of 50 percent Emiratisation during Careers UAE 2022. Having hosted more than one million visitors at Expo 2020 Dubai, the Group will leverage the site to highlight its climate and net zero ambitions under its new growth strategy.

On the digitisation front, in partnership with SAP, the ENOC Group automated more than 1,000 business processes in 2022 while it increased its retail footprint in the UAE to 186 service stations and enabled more than half a million customers to benefit from its Yes Rewards Programme.

In line with the Group’s expansion plans, Tasjeel opened its 10th vehicle testing and registration centre in Sharjah, and ENOC Link opened its first eLink station, also in Sharjah. The ENOC Group also opened four compact stations and the first Emergency Response Centre in JAFZA. It announced the completion of its Jet Fuel Pipeline to Al Maktoum International Airport last year.

While the ENOC Group’s Strata marine lubricants arm recorded an impressive 350 percent sales growth in two years, the Group also announced its partnership with Tfe Intermediacao De Negocios Ltda to distribute lubricants in Brazil.