Minister of Petroleum and Mineral Resources Tarek El-Molla, accompanied by Cairo Governor Khaled Abdel Aal and UAE Ambassador to Egypt Mariam El-Kaabi, inaugurated Saturday Egypt’s first service station of UAE’s ADNOC Distribution in Degla, Maadi neighborhood.
The new service station represents the first investment of the UAE’s ADNOC Distribution in Egypt in marketing petroleum products in the local market through its new partnership with TotalEnergies Marketing Egypt as the leading UAE company will pump new investments in Egypt to operate its new branded service stations respectively in the coming period and launch new marketing and fuel distribution activities.
During his speech at the inauguration, the minister stressed the importance of UAE’s largest fuel and convenience retailer, “ADNOC,” investments in the Egyptian market, welcoming the Emirati company and its keenness to be present and invest in Egypt.
The minister added that the huge Emirati investments in the Egyptian market reflect the extended relations, the strong bonds between the two countries, and the strong friendship between the Egyptian political leadership, President Abdel Fattah El-Sisi, and His Highness Sheikh Mohammad bin Zayed, the President of the United Arab Emirates.
El-Molla also said that having an important partner like ADNOC, with its expertise, technology, and global high quality levels through a partnership with another global entity such as Total Energies, enhances the quality standards in the fuel distribution and car supply sector and increases competitiveness in the market among companies to provide the best service to the Egyptian consumer, who will ultimately benefit from this diversity and the presence of 14 brands competing in this field to improve services, especially as fuel services are the nerve of daily life for consumers and a mirror of the petroleum sector for them.
For his part, Cairo Governor Khaled Abdel Aal said that the ADNOC service station project for distribution comes within the strategy pursued by the Egyptian state to encourage investment in this field, pointing out that the station is the beginning of launching many multi-purpose service stations. He also pointed out that the Cairo Governorate, in cooperation with the Ministry of Petroleum, provides all solutions, assistance, and ways to facilitate attracting investment and investors.
Abdel Aal added that Cairo under President Abdel Fattah El-Sisi Cairo has witnessed development in all fields, which contributes to making Cairo a destination and goal for investors. He also said that integrated fuel stations are a target for the Ministry of Petroleum to achieve diversity in service management and provide security, safety, and sustainability.
On the other hand, UAE Ambassador to Egypt Mariam El-Kaabi said that ADNOC’s new investment in the Egyptian fuel market is a new addition to the strategic partnership and constructive cooperation between the UAE and Egypt, noting that the number of UAE companies operating in Egypt reaches 1730 companies in various economic fields, and at the top of them are the petroleum and gas sector to achieve sustainable development and benefit for both countries.
Moreover, she confirmed that today’s event is a new milestone in the economic relations with Egypt. The ambassador also greeted the Ministry of Petroleum and Mineral Resources and Minister Tarek El-Molla for their full support of Emirati investments in the Egyptian petroleum sector.
Meanwhile, the CEO of UAE ADNOC Distribution, Bader Al-Lamki, expressed his happiness for launching the first ADNOC branded service stations in Egypt, which represents a successful partnership with TotalEnergies Egypt after the acquisition of a 50% stake in TotalEnergies Egypt. Al-Lamki added that three service stations have already opened, with preparations are underway to launch another six during 2023.
“I am delighted to be present in these historic moments of launching the first ADNOC Distribution branded service station, which comes within the successful partnership between ADNOC Distribution and TotalEnergies as the two parties will invest their experience in offering the best international standard services and high-quality petroleum products to meet the needs of the local market,” said the Director of the French TotalEnergies Egypt.
Furthermore, The Minister of Petroleum Tarek El-Molla and attendees inspected the services provided at the station, which has an investment of LE 50 million and provides 250 direct and indirect job opportunities. The station offers distinguished services that meet the requirements and needs of customers and consumers of all types of fuels, whether gasoline, diesel, or gas.
Source: Media Department, Cairo Governorate
