Fujairah National Energy Co (FUJNEC) will soon begin selecting EPC partners as the company plans to venture into engineering, procurement and construction business in the downstream oil and gas sector.
The emirate of Fujairah anticipates significant opportunities in the EPC sector, with an estimated value of approximately $100 billion over the next decade. FUJNEC, being one of the largest engineering enterprises in the emirate, aims to collaborate with leading EPC players to leverage this tremendous potential.
Established in 2005 by the Fujairah Government, FUJNEC is a commercially independent oil and gas company headquartered in Fujairah, UAE. Its core business areas encompass oil and gas exploration and production, supply, trading and processing, condensate processing/terminals, infrastructure development, and aviation.
As the biggest engineering enterprises in the emirate, FUJNEC is eager to venture into the EPC business. The company seeks partnerships in various modes, including joint working, joint bidding through consortium partners, joint ventures, technology transfer, and business sharing.
FUJNEC is particularly interested in partnering with EPC companies that possess a strong track record in oil and gas exploration and production, construction, supply trading and processing, condensate processing/terminals, infrastructure development, aviation, manufacturing, construction, and execution.
Currently, FUJNEC operates 32 wells in the UAE and manages two hydrocarbon liquid storage and export terminals. Through production sharing agreements and contractor sharing agreements, the company operates joint ventures across its exploration and production sites, with ongoing exploration assets in the UAE.
The government of Fujairah envisions the emirate as a vital economic hub, aiming to transform it into a $1 trillion economy. The refinery and petrochemical sectors present lucrative business prospects in the downstream oil and gas industry, aligning with the emirate’s growth objectives.
Interested parties are requested to submit their expressions of interest before June 20, 2023.