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ENOC to expand presence in exploration, production
25 February 2010: Emirates National Oil Company (ENOC) is planning to expand in exploration, production and storage to help counter tight profit margins.
The company had abandoned a bid to buy all of exploration unit Dragon Oil Plc in 2009, according to sources. ENOC's sales fell about 41 per cent to $8.5 billion in 2009 from $12 billion in 2008 as oil prices declined.
Source: Ameinfo