ABU DHABI, 18th November, 2022 (WAM) – With the successful closing of the acquisition of Zakher Marine International (ZMI), ADNOC Logistics & Services (ADNOC L&S) continues to grow as a competitive, world-class logistics and services company.
The acquisition of ZMI, an Abu Dhabi-based owner and operator of offshore support vessels, with the world’s largest fleet of self-propelled, self-elevating jack-up barges, marks another chapter in ADNOC L&S’ significant growth, and cements its status as a catalyst for ADNOC and more broadly Abu Dhabi’s growth and diversification.
The acquisition enables ADNOC L&S, the maritime logistics arm of the Abu Dhabi National Oil Company (ADNOC), to offer a broader range of critical offshore services to its customers and will unlock new and attractive revenue opportunities, create greater value for Abu Dhabi and the UAE and support ADNOC’s growth strategy. It gives ADNOC L&S access to China’s growing offshore renewable energy market through ZMI’s wind farm installation contract in the South China Sea.
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S outlined that the acquisition of ZMI will not only deliver new opportunities, with an industry recognised partner, but also support ADNOC’s commitment to be an enabler of economic prosperity through its In-Country Value programme.
“The acquisition of ZMI is one of our most significant steps in our strategy to deliver greater value and new revenue streams as we modernise, expand and diversify the fleet we operate, which has over 300 vessels. This strategic move will broaden our services and enhance our capabilities to support offshore operations, as we continue to deliver our successful growth plan,” Al Masabi said.
“We have mapped out a market-driven business strategy that is steering the company in a common direction with ADNOC’s plans for accelerated upstream growth and downstream diversification, which can respond quickly to global market dynamics. The acquisition of ZMI will ensure our customers gain a significant edge in terms of performance and cost efficiencies.”
A crucial link in the oil and gas supply chain, ADNOC L&S supports the UAE’s oil and gas industry through three major business segments – shipping, integrated logistics and marine services. By combining its services across these three sectors and leveraging its four-decade long experience of delivering safe and efficient operations internationally, ADNOC L&S has emerged as a leader in shipping and integrated logistics for the energy sector in the Gulf.
The acquisition underlines ADNOC L&S’ commitment to delivering its continuous expansion and growth strategy that is a critical enabler of the UAE’s energy industry.
Over the past 24 months, ADNOC L&S has acquired 25 deep sea vessels, including eight Very Large Crude Carriers (VLCC), adding 16 million barrels of capacity, six product tankers, expanding the product tanker fleet capacity to over 1 million metric tonnes, five Very Large Gas Carriers (VLGC) for AW Shipping and six LNG carriers, facilitating the shipment of ADNOC produced commodities to global markets. Last year, it announced plans to develop new port and logistics facilities to support tenants of the TA’ZIZ Industrial Chemicals Zone.
Following the completion of the ZMI transaction, ADNOC L&S has the most diversified fleet in the Middle East, operating over 300 vessels across its shipping, offshore logistics and marine services fleet. When combined with its 1.5 million square metres integrated logistics base in Mussafah and its comprehensive end-to-end logistics capabilities, ADNOC L&S can truly claim to be the oil and gas supply chain champion in the UAE.