AD Ports collaborates with KazMunayGas to boost Kazakhstan’s oil industry

AD Ports collaborates with KazMunayGas to boost Kazakhstan’s oil industry

Abu Dhabi – AD Ports Group sealed a strategic partnership agreement with Kazakh National Oil Company (KazMunayGas) and a memorandum of understanding (MoU) with Kazakhstan’s Ministry of Industry and Infrastructural Development.

Through the partnership, the UAE-based firm aims to develop a marine fleet and coastal infrastructure in the Caspian and Black seas, according to a press release.

The deals follow the shareholder agreement that was inked last December between AD Ports and Kazmotransflot (KMTF), a fully-owned subsidiary of KazMunayGas.

The new agreements will enable the ADX-listed firm to expand its business in Central Asia and Kazakhstan, which is a key market for energy, transport, and logistics, as well as a trade route between Europe and Asia.

AD Ports and KazMunayGas will explore collaboration opportunities on a wide range of projects in the area, including the establishment of a new fleet of shallow-water vessels to back offshore operations in the Caspian Sea. This is besides developing a tanker fleet to enlarge the export of Kazakh oil.

The joint project could also delve into bulk cargo transportation by seising opportunities to create or acquire bulk cargo vessels in order to support the venture.

Furthermore, AD Ports seeks to develop bespoke training and development programmes for Kazakh teams through