Adnoc Distribution, the retail arm of Abu Dhabi National Oil Company (Adnoc), on Wednesday signed an agreement with Saudi-based Al Olaibi Company, which will see ADNOC provide consultancy services for managing and operating petrol stations in Saudi Arabia.
The deal is seen as a first step towards providing a franchise system for Al Olaibi company.
In a statement issued yesterday, Adnoc affirmed that the agreement goes hand-in-hand with the company’s strategy to expand the construction and operation process of service stations in the UAE through an exchange of its technical expertise in operating petrol stations outside the UAE.
The agreement was signed by Abdullah Salem Al Daheri, General Manager of Adnoc distribution, and Eid Abdul Hadi Al Olaibi, Director General of Al Olaibi Company.
As per the agreement, Adnoc will offer Al Olaibi company technical, engineering and technological consultancy services related to operating and construction of petrol stations owned by Al Olaibi Company in Saudi Arabia.
Al Daheri said that the signing of the agreement is a result of exemplary efforts exerted by Adnoc and its provided services and products.
Al Olaibi praised the expertise of Adnoc Distribution in operating petrol stations by implementing the highest international standards of quality and safety in petrol stations all around the UAE.