Thursday 2 February 2023

Adnoc's logistics unit completes Zakher Marine takeover

ABU DHABI, November 18, 2022

Adnoc Logistics & Services (Adnoc L&S), has announced the closing of its acquisition of Zakher Marine International (ZMI), an Abu Dhabi-based owner and operator of offshore support vessels, with the world’s largest fleet of self-propelled jack-up barges.
The shipping and maritime logistics arm of Abu Dhabi National Oil Company, Adnoc L&S said following the completion of the transaction, it has the most diversified fleet in the Middle East, operating over 300 vessels across its shipping, offshore logistics and marine services fleet. 
The acquisition is the latest example of Adnoc’s ongoing strategic value creation and growth programme. It underlines the Abu Dhabi group's commitment to investment in local partnerships, reinforcing the company’s continued role in creating value for Abu Dhabi and the UAE.
With the acquisition of ZMI, Adnoc L&S extends its regional footprint and creates new opportunities for expansion with an industry-recognised partner, broadening its services to include critical support assets for offshore operations, including ZMI’s maiden offshore renewables project in China, said a top official at the closing ceremony held at ZMI’s Sentinel Barge in Abu Dhabi.
"As part of our wider growth strategy, this acquisition allows Adnoc L&S to offer a broader range of services to our customers, unlocking new and attractive revenue opportunities, while leveraging ZMI’s proven track record for operational excellence and commitment to health, safety and environment," remarked Captain Abdulkareem Al Masabi, CEO of Adnoc L&S. 
These assets and expertise will open new markets for Adnoc L&S, both locally and internationally, broaden our industry-leading integrated services offering and consolidate our position as the region’s largest integrated logistics provider, he stated.
Established in Abu Dhabi in 1984, ZMI owns and operates 24 jack-up barges and 38 offshore support vessels. ZMI has one of the youngest fleets in the industry and employs over 1,700 people across the UAE, Saudi Arabia, Qatar and China.
Following the deal, ZMI will continue operating as a standalone entity under Adnoc L&S, led by Ali El Ali as CEO.
El Ali said: "We are a UAE company, first and foremost, and have worked with Adnoc for decades to deliver In-Country Value. Together, we cover the entire offshore marine services value chain."
"This partnership will ultimately allow ZMI to strengthen its position as the global leader of the largest active fleet of offshore jack-up barges and support vessels," he added.-TradeArabia News Service


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