Acquisition bolsters ADNOC L&S' position as region's largest shipping and integrated logistics company, growing its total fleet to more than 300 vessels
Transaction unlocks new revenue streams, market access, and supports growth opportunities for ADNOC L&S in its core energy and offshore logistics segments
ZMI is the world's largest owner and operator of self-propelled jack-up barges and a leading provider of offshore support vessels in the GCC region with operations across the UAE, KSA, Qatar and China article-img
Abu Dhabi, UAE - July 26, 2022
ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), announced today the 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. Financial details of the transaction are not being disclosed.
Upon completion of the transaction, which is subject to customary regulatory approvals, 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.
With the acquisition of ZMI, ADNOC L&S will broaden its services to include critical support assets for offshore operations, including ZMI's maiden offshore renewables project in China, and extend its regional footprint, creating new opportunities for expansion with an industry-recognized partner. Meanwhile, ZMI will benefit from access to new opportunities provided as a result of ADNOC's ambitious growth strategy, allowing it to grow and expand its existing business footprint.
ZMI will continue operating as a standalone entity under ADNOC L&S, led by Ali Hassan El Ali as CEO.
Image by ADNOC
Abu Dhabi National Oil Company, press release