ADNOC Fleet Rises to over 300 with ZMI Buy
The shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC) is acquiring Zakher Marine International (ZMI), adding 24 jack-up barges and 38 offshore support vessels to its fleet.
ZMI is an Abu Dhabi-based owner and operator of offshore support vessels, with what ADNOC says is the world’s largest fleet of self-propelled jack-up barges.
On completion of the transaction, which is subject to customary regulatory approvals, ADNOC Logistics & Services (ADNOC L&S) total fleet will amount to more than 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, ADNOC says 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.
ZMI will continue operating as a standalone entity under ADNOC L&S, led by Ali Hassan El Ali as CEO.