China National Petroleum Corporation (CNPC) has signed an agreement with the Jebel Ali Free Zone (Jafza) allowing the energy firm to set up its regional office for the Middle East and Africa in Dubai, United Arab Emirates state news agency WAM reported.
The headquarters covers 55,000 square meters (sqm) and includes a 10,000 sqm multi-storey office and warehouse facility for storage, maintenance and repair of oil and gas equipment.
“This regional headquarters brings together all of our 16 listed companies in Jafza under one roof to help us better serve our customers,” said Zhu Junfeng, CEO of CNPC Middle East.
“It will also support our expansion plans in the UAE and the Middle East, following our acquisition of an 8 percent stake in the Abu Dhabi Company for Onshore Oil Operations (ADCO) for $1.8 billion,” he added.
Jafza has more than 850 companies from 77 countries in the oil, gas and petrochemical sector. It is also backed by the global network of DP World, with 77 marine and inland terminals in 40 countries.
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