ZMI strengthens its leading position in the offshore marine services sector

ZMI strengthens its leading position in the offshore marine services sector

- ZMI owns and operates the world’s largest active fleet of offshore jack-up barges, complemented by a large fleet of offshore support vessels

- Strategic transaction strengthens ZMI’s leading position in the sector with ADNOC’s commitment to support the continued growth of the business going forward

- One of the largest transactions to date in oil field services in MENA

- Ali Hassan El Ali to lead this new phase of growth as CEO of ZMI

Abu Dhabi, UAE: ZMI Holdings (“ZMI” or the “Company”) today announces that ADNOC Logistics & Services (“ADNOC L&S”), the shipping and maritime logistics arm of ADNOC Group (“ADNOC”), has entered into definitive agreement to acquire ZMI. The transaction is subject to customary regulatory approvals and is expected to close in Q4 2022.

This strategic combination with ADNOC L&S creates a unique platform for ZMI to accelerate its growth and expand its business footprint in the region and globally, allowing it to capture new revenue opportunities and drive market consolidation.

ADNOC L&S will benefit from ZMI’s extensive capabilities, its experience established over nearly four decades, its fit-for-purpose fleet of over 60 vessels, as well as its operational excellence and impeccable HSE record. ZMI has a broad and diversified customer base across