UAE's ADNOC L&S to buy Zakher Marine International

27 Jul '22

1 min read

Pic: ADNOC

ADNOC Logistics and Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), has agreed to a deal to acquire Zakher Marine International (ZMI), an Abu Dhabi-based owner and operator of offshore support vessels. The acquisition of ZMI will enable ADNOC L&S to expand its services to incorporate crucial support assets for offshore operations, which also involves ZMI’s first offshore renewables project in China.

The deal will also allow ADNOC L&S to expand its regional footprint, generating new opportunities for growth with an industry-recognised partner. After the transaction is completed, which is condition to customary regulatory approvals, ADNOC L&S will take 24 jack-up barges and 38 offshore support vessels from ZMI, expanding its total fleet strength to over 300 units.

ZMI also stands to benefit from access to new prospects available because of ADNOC’s ambitious growth plans, which will enable it to develop and expand its business reach.

ZMI will retain its position as a standalone entity operating under ADNOC L&S, headed by Ali Hassan El Ali as the CEO.

ADNOC L&S has not disclosed the financial details of the acquisition.

ALCHEMPro News Desk (NB)

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