Adnoc Logistics and Services acquires Zakher Marine International

Financial details of the transaction are not being disclosed



Upon 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. — File photo
Upon 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. — File photo

By Staff Report

Published: Tue 26 Jul 2022, 4:33 PM

Last updated: Tue 26 Jul 2022, 4:34 PM

Adnoc Logistics and Services (Adnoc L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (Adnoc), on Tuesday announced 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, Adnoc L&S statement said.

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.

Zakher Marine International will continue operating as a standalone entity under Adnoc L&S, led by Ali Hassan El Ali as CEO.

— muzaffarrizvi@khaleejtimes.com


More news from Business