The shipping and maritime logistics arm of the state-owned Abu Dhabi National Oil Company (ADNOC), ADNOC Logistics & Services (ADNOC L&S), has announced the acquisition of the offshore support vessel owner and operator Zakher Marine International (ZMI).
Upon completion of the transaction, which is subject to customary regulatory approvals, ADNOC L&S will add 24 jack-up barges and 38 offshore support vessels from ZMI, growing its fleet size to over 300 units.
Financial details of the transaction are not being disclosed.
The acquisition is expected to broaden ADNOC L&S’ services to include critical assets for offshore operations, including ZMI’s maiden offshore renewable project in China, and expand the company’s footprint in the region.
Meanwhile, 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, ADNOC L&S said.
The UAE-based company will continue to operate as a standalone entity under ADNOC L&S, led by Ali Hassan El Ali as CEO. The transaction is expected to close in the fourth quarter of 2022.
Last year, ZMI mobilised its jack-up vessel QMS Gladiator for the Changle offshore wind project in South China.
The company said that it was the first UAE and GCC offshore contractor to be awarded a contract with the Chinese government to support the development of an offshore wind farm.