ADNOC Logistics & Services, the shipping and maritime logistics arm of Abu Dhabi National Oil Company, announced the acquisition of Zakher Marine International, an Abu Dhabi-based owner and operator of offshore support vessels, with the world’s largest fleet of self-propelled jack-up barges. Financial details of the transaction are not being disclosed.
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 total fleet size to over 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, 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. ADNOC’s objective is to maximize the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification.
ZMI Holdings, through its operating and asset owning subsidiaries, referred to as Zakher Marine International is the world’s largest owner and operator of self-propelled jack-up barges and also owns a fleet of offshore support vessels, owning 24 and 38 vessels respectively, with operations in UAE, KSA, Qatar and China. ZMI has always focused on operational excellence, customer satisfaction and retention, which has supported its growth to become the largest offshore fleet owner globally.