ADNOC acquires major local offshore vessel player

ABU DHABI, November 21, 2022 – ADNOC has acquired Emirati vessel owner Zakher Marine International and added 24 jackup rigs and 38 offshore vessels to its fleet, the NOC announced on Thursday.

This is the first major acquisition of subsidiary ADNOC Logistics & Services, which is the region’s largest shipping and integrated logistics company. The subsidiary now has a fleet of more than 300 vessels.

Zakher Marine International owns the world’s largest fleet of self-propelled jackup rigs and employs more than 7,000 people across the UAE, Saudi Arabia, Qatar and China.

The entity will continue to work under ADNOC Logistics & Services.

Cost of the transaction was not disclosed.

The deal follows ADNOC Logistics & Services’ drive to expand its fleet, with eight very large crude carriers, six product tankers, five very large gas carriers and six LNG carriers added in the last year.

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