ADNOC Logistics & Services to have 300-plus fleet after Zakher Marine International buy
This comes after acquisition of Abu Dhabi based Zakher Marine International
Dubai: The Abu Dhabi energy giant ADNOC’s logistics arm has bought Zakher Marine International (ZMI), which has the world’s biggest fleet of self-propelled jack-up barges. The financial costs involved in the transaction have not been revealed.
ZMI, also based in Abu Dhabi, owns and operates offshore support vessels, which will give ADNOC Logistics & Services’ quite the heft it needs to scale up operations in the region and beyond. On completion of the transaction, ADNOC L&S will add 24 jack-up barges and 38 offshore support vessels from ZMI, growing its total fleet size to over 300 units.
It will expand services to ‘include critical support assets for offshore operations, including ZMI’s maiden offshore renewables project in China’. The regional expansion will create new opportunities ‘with an industry-recognized partner’. ZMI stands to benefit from access to new opportunities provided by ADNOC’s ambitious growth strategy, allowing it to grow and expand its existing business footprint’.
ZMI will continue operating as a standalone entity, with Ali Hassan El Ali as CEO.