Tuesday 25 June 2024

FUJNEC to enter EPC business; invites EoI for partners

FUJAIRAH, May 29, 2023

Fujairah National Energy Company (FUJNEC) has invited global expression of interest (EoI) for selection of EPC partners to enter into engineering, procurement and construction business in downstream oil and gas sector.

The upcoming opportunities in EPC of oil and refinery downstream packages in the emirate of Fujairah are expected to be approximately $100 billion in the next 10 years. FUJNEC would like to tie-up with leading EPC players to address the huge opportunity, a notification said.

FUJNEC, as one of the biggest engineering enterprises in the emirate, wants to enter into EPC business with its vast experience in engineering, procurement and construction of power plants in Fujairah and abroad, it said.

The partnership can be in the following mode either on long term basis or on case to case basis.

* Joint working;

* Joint bidding through consortium partners;

* Joint venture;

* Technology transfer and business sharing

FUJNEC is seeking partnership with lead EPC partners who are also looking for an  experienced, technically suitable having good oil and gas exploration and production, construction, supply trading and processing, condensate processing/terminals, infrastructure development, aviation, manufacturing, construction and execution experience, said the notification.

FUJNEC is a commercially independent oil and gas company established by the Fujairah Government in 2005 with its headquarters in Fujairah, UAE.

FUJNEC's business comprises oil and gas exploration and production, supply, trading and processing, condensate processing/terminals, infrastructure development and aviation.

FUJNEC owns and operates 32 wells in the UAE and two hydrocarbon liquid storage and export terminals. FUJNEC operates joint ventures through production sharing agreements and contractor sharing agreements across its E&P sites and have several ongoing exploration assets in the UAE.

The Government of Fujairah envisions the emirate to be a key engine of growth and is putting in place various initiatives to make Fujairah a $1 trillion economy. Downstream oil and gas opportunities present a lucrative business proposition for the emirate in refinery and petrochemical sectors, it said.

All EOIs must be received before June 20, 2023, it said. - TradeArabia News Service




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