Oil
Tuesday, 22 March 2011 14:19

Engen buys Chevron oil assets in Mauritius and Tanzania

The African downstream petroleum marketer Engen has purchased operations from Chevron in Africa – Mauritius and Tanzania.

This acquisition, which was finalised on 31 January, is part of the company’s expansion programme in a batch of seven agreements to acquire some of Chevron’s interests in sub-Saharan Africa and the Indian Ocean islands. South African-based Engen has already taken over Chevron’s interests in Reunion, Malawi and Zambia, and the company still has to conclude its acquisitions in Zimbabwe and Mozambique.

With this batch of acquisitions, Engen has grown its footprint to 22 countries in the region – representing a giant stride forward in its goal to be a major regional player in terms of its 10-year corporate growth strategy, EPIC 2016.

Chevron imports about 70% of Tanzania’s petroleum products. “These acquisitions represent major progress in our vision for mutually-beneficial sustainable growth in the region,” says Nizam Salleh, Managing Director and Chief Executive Officer of Engen Petroleum Limited. “It is an enormous boost to our plans, and we hope to make a meaningful contribution to the region’s economic and industrial development.”

Wayne Hartmann, the International Business Division Manager at Engen, says the company will take over Chevron’s retail networks and commercial operations in the three countries and will embark on the re-imaging of service stations as soon as it is practicably possible.

Hartmann assures staff, motorists and business partners that the business operations, retail and commercial networks, logistics and storage arrangements will continue as before.

“Operations will carry on trading as going concerns, existing staff and relationships will be retained, and in-country supply plans have been developed to ensure uninterrupted product and service supply,” said Hartmann.

What Engen is buying

Mauritius: 28 service stations, commercial relationships, aviation facilities, lubricant sales

Malawi: 16 service stations, commercial relationships, lubricant sales

Tanzania: Commercial relationships, lubricant sales

Reunion: 32 service stations, commercial relationships, lubricant sales

Zambia: 24 service stations, commercial relationships, lubricant sales

Zimbabwe: 17 service stations, commercial relationships

Mozambique: Commercial relationships

For more information, visit www.engen.co.za, to which full acknowledgement and thanks are given.

GIL Africa 2017

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