Emirates National Oil Company (ENOC) is entering into a strategic alliance with Indian Oil Company (IOC), covering a number of different areas within the marine services sector. The agreement will enable ENOC to expand its presence to over 180 ports in 28 countries and to provide its customers with high-end marine lubricants and technical services.
His Excellency Saif Humaid Al Falasi, Group Chief Executive at ENOC, said: “The marine oil industry is becoming more eco-conscious as international regulators set standards to control air pollution from ships. With tighter restrictions in designated emission control, ship owners, marine oil manufacturers and suppliers need to work together to ensure greater quality control. ENOC’s alliance with one of the world’s biggest oil and gas companies, IOC, will help mitigate these environmental risks through world-class research and development and manufacturing that meets the IMO standards.” The two companies plan to jointly develop a new marine cylinder oil that meets the conditions of the forthcoming IMO sulphur cap.
As well as extending ENOC’s geographic reach, the partnership will also enable the company to obtain approvals from existing manufacturers in the Indian Subcontinent more swiftly. This will be undertaken through IOC’s R&D centre, which is considered to be one of the largest centres of its type in Asia.
The ENOC Group-IOC alliance represents one of biggest collaborations within the marine lubricant industry. Both entities believe they will jointly be offering much greater value for their customers.