Company signed five-year contract with ADNOC Offshore to provide integrated logistics services. Image Credit: Supplied

Abu Dhabi: ADNOC Logistics & Services (ADNOC L&S) has unveiled its Integrated Logistics Services Platform (ILSP) in Mussafah, Abu Dhabi. According to the statement it is one of the largest turnkey offshore logistics offerings in the world that enables coordinated end-to-end management of logistics and maritime operations at its base.

As part of the launch of the ILSP project, ADNOC L&S signed a Dh9.5 billion ($2.6 billion) contract with ADNOC Offshore to provide integrated logistics services.

The agreement runs for five years, with the option of a five-year extension, and includes the provision of port services, warehouse operations, heavy lifting, material handling and shipping, rig and barge moves, marine terminal operations and waste management services. “Over 80 per cent of the contract value will flow back into the UAE’s economy through ADNOC’s successful In-Country Value (ICV) program,” it said in a statement.

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“The ILSP is a unique offering that centralizes all logistics requirements for our customers through a single interface, optimizing efficiencies and reducing logistics costs,” said Captain Abdulkareem Al Masabi, CEO of ADNOC L&S. “As we deliver on our ambitious growth strategy, we continue to unlock greater value both for our customers and ADNOC L&S, and reinforce ADNOC L&S’ position as the region’s largest shipping and integrated logistics company and global maritime energy logistics leader.”

By managing all logistics requirements through one system, ILSP can reduce project logistics costs, with customers being invoiced in a unique, cost-per-ton format, moving away from the standard asset lease model.

ADNOC L&S is undertaking a global strategic expansion program, to offer a broader service to its customers while supporting and enabling the growth of ADNOC’s upstream and downstream operations.