Saudi PIF acquires 40% stake in Zamil Offshore

Saudi PIF acquires 40% stake in Zamil Offshore

The Public Investment Fund (PIF) has completed its investment in Zamil Offshore Services Company (Zamil Offshore), one of the largest Saudi-based offshore support vessel operators and construction service providers. PIF has acquired a 40 percent stake of the total issued capital of the company. The transaction forms part of PIF’s wider strategy to contribute to […]The Public Investment Fund (PIF) has completed its investment in Zamil Offshore Services Company (Zamil Offshore), one of the largest Saudi-based offshore support vessel operators and construction service providers.

PIF has acquired a 40 percent stake of the total issued capital of the company. The transaction forms part of PIF’s wider strategy to contribute to the development of Saudi Arabia’s energy base.

PIF’s investment aims to further strengthen the capital base of Zamil Offshore to enable this Saudi private sector company to continue expanding its services and fleet to serve the growing demand for offshore support services, including wind power generation activities in the future.

Incorporated in 1977, Zamil Offshore is one of the largest offshore support companies in Saudi Arabia in terms of market share and fleet size, managing and operating more than 90 vessels in the Arabian Gulf.

Bakr AlMuhanna, Head of the Transport and Logistics Sector