ADNOC Logistics & Services, the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC) has completed the acquisition of Zakher Marine International (ZMI), adding 24 jack-up barges and 38 offshore support vessels to its fleet.
The acquisition closing ceremony was held at ZMI’s Sentinel Barge in Abu Dhabi. ZMI will continue operating as a standalone entity under ADNOC L&S, led by Ali El Ali as CEO.
"With the acquisition of ZMI, ADNOC L&S extends its regional footprint and creates new opportunities for expansion with an industry-recognized partner, broadening its services to include critical support assets for offshore operations, including ZMI’s maiden offshore renewables project in China," ADNOC L&S said.
Ali El Ali, Chief Executive Officer of ZMI, 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.”
According to ADNOC L&S, following the completion of the transaction, ADNOC L&S has the most diversified fleet in the Middle East, operating over 300 vessels across its shipping, offshore logistics, and marine services fleet.
The company also highlighted that it had over the past 24 months, acquired 25 deep sea vessels, including eight Very Large Crude Carriers (VLCC), adding 16 million barrels of capacity, six product tankers, expanding the product tanker fleet capacity to over 1 million metric tons, five Very Large Gas Carriers (VLGC) for AW Shipping and six LNG carriers.