ADNOC Logistics & Services closes Zakher Marine International acquisition

ADNOC Logistics & Services closes Zakher Marine International acquisition

ABU DHABI, 17th November, 2022 (WAM) -- ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), announced today the closing of its 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.

The closing ceremony was held at ZMI’s Sentinel Barge in Abu Dhabi.

With the acquisition of ZMI, ADNOC L&S extends its regional footprint and creates new opportunities for expansion with an industry-recognised partner, broadening its services to include critical support assets for offshore operations, including ZMI’s maiden offshore renewables project in China.

Commenting on the transaction, Capt. Abdulkareem Al Masabi, CEO of ADNOC L&S, said, “As part of our wider growth strategy, this acquisition allows ADNOC L&S to offer a broader range of services to our customers, unlocking new and attractive revenue opportunities, while leveraging ZMI’s proven track record for operational excellence and commitment to health, safety and environment. These assets and expertise will open new markets for ADNOC L&S, both locally and internationally, broaden our industry-leading integrated services offering and consolidate our position as the region’s largest