ENOC Group invests US$68m in digital transformation drive
UAE-based ENOC Group has unveiled plans to invest US$68 million in its digital transformation strategy.
The energy company’s growth strategy aims to enhance its business and operations through digitalisation; which it says will play a key component in identifying synergies within its businesses.
The primary focus is to leverage ENOC’s competencies across the energy value chain to identify new avenues for growth, while also focusing on customer centricity.
“2020 was an unprecedented year for all and at ENOC we believe that it also presented great opportunities,” says ENOC Group CEO His Excellency Saif Humaid Al Falasi.
“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.”
Al Faisi added that increasing market share remains a priority, while strengthening the business to meet future challenges.
In 2019, the Group introduced a number of initiatives to diversify its business streams. These included:
- Next – an accelerator programme designed to unlock growth opportunities and tackle challenges in the energy sector through building new digital ventures for business-to-business and consumer categories. Under Next, the Group introduced ENOC Link, a digital mobile fuel delivery service, and Beema, the UAE's first pay-per-kilometre car insurance.
- Masar – an innovative digital transformation programme designed to offer complete digital integration of all its divisions to enhance efficiencies across ENOC’s core operational and support functions.
In 2020, the Group focused on employee safety, business continuity and maintaining asset integrity.