Dubai – Mubasher: China National Petroleum Corporation (CNPC) will establish its regional headquarters in Dubai’s Jebel Ali Free Zone (Jafza) to serve its customers in the Middle East.
Jafza, a DP World company and the UAE’s flagship trade and logistics hub for the Middle East and Africa region, said that CNPC’s new headquarters will cover an area of 55,000 square metres, including a 10,000-square metre multi-storey office and warehouse facility for storage, maintenance, and repair of oil and gas equipment.
The agreement was signed by Mohammed Al Muallem, CEO of Jafza and senior VP and managing director of DP World, UAE, and Zhu Junfeng, CEO of CNPC Middle East, in attendance of several senior officials, according to a statement released Tuesday.
“CNPC’s headquarters in the UAE reinforces its presence as a key player in the region’s energy sector. We will support CNPC in their ambitious growth plans by providing favourable business processes, services, and facilities that compare with international standards,” said Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World and chairman of Ports, Customs, and Free Zone Corporation.
Commenting on the deal, Junfeng stated that the new regional HQ will bring together CNPC’s 16 companies listed in Jafza “under one roof to help us better serve our customers.”
Following CNPC Middle East’s acquisition of an 8% stake in the Abu Dhabi Company for Onshore Oil Operations (ADCO) for $1.8 billion, the new HQ will support the Chinese company’s expansion in the UAE and the Middle East, the Chinese top official highlighted.
Jafza’s strategic logistical advantage is its close proximity to air, sea, and land routes. It is also backed by DP World’s global network of 77 marine and inland terminals in 40 countries.
