Enoc to invest $68m in digital transformation

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Enoc to invest $68m in digital transformation

Apr 6, 2021 12:26 PM

Enoc Group (Emirates National Oil Company) has unveiled its plans to invest AED 250 million ( 68 million) of its overall 2021 expenditure towards further progressing its digital transformation strategy....

Enoc Group (Emirates National Oil Company) has unveiled its plans to invest AED 250 million ($68 million) of its overall 2021 expenditure towards further progressing its digital transformation strategy.

Enoc’s growth strategy will place strong emphasis on enhancing its business and operations through digitalisation; which will play a key component in optimizing operations and identifying synergies within its businesses, while continuing to serve its main goal of meeting the growing energy demand in Dubai and the UAE.

The primary focus of the Group’s strategy is to leverage its competencies across the energy value chain to identify new avenues for growth, while gearing its efforts on customer centricity, thereby enabling the growth of the UAE’s energy sector.

Saif Humaid Al Falasi, Group CEO, Enoc, said: “2020 was an unprecedented year for all and at Enoc we believe that italso presented great opportunities. It made us re-evaluate our operations and urged us to adopt innovative measures to keep up with the fast-paced transformation that our sector is going through. Understanding the current market realities allowed us to introduce changes to emerge as an agile, resilient and future ready organisation, while aligning our efforts with the national mandate.”

“While increasing our market share remains a priority, we are focused on strengthening our business to ensure that we have the capabilities to face any future challenges. As we gear up to our nation’s Golden Jubilee, we remain committed to our leadership’s vision to honor our past achievements and continue investing to further our digital acceleration and maintaining sustainable growth and diversification to meet UAE’s growing energy demands,” added Al Falasi.

Enoc plans to adopt state-of-the-art technologies across its operating assets to create efficiencies and enhance value for its shareholders. The Group also plans to educate the current and potential employees on the importance of digitalisation and why it is crucial for the Group’s growth for the next 15-20 years.

“The talent pool we need to drive for our organisation’s growth is constantly changing. We are on track with our Emiratisation efforts to achieve 50% by 2021 and are dedicating our efforts to hone our young national talents. We are also working to understand what attracts and motivates young Emirati nationals to join the energy sector.

“Wewill dedicate our time and resources to ensure that our employees fully understand the potential that digitalisation has to offer,” added Al Falasi.

In 2020, the Group focused its efforts to ensure employee safety, business continuity and maintain asset integrity. Despite the challenges, the Group achieved significant milestones through developing new business models.

These included the optimisation of retail non-fuel business, increasing capabilities of its storage and terminalling arm, enhancing performance of its various subsidiaries, which ultimately contributed to 60 percent in budgetary savings. – TradeArabia News Service