ADNOC acquires major local offshore vessel player
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.
Recent Posts
Wood wins TotalEnergies North Sea flare recovery work
UK engineering contractor Wood has been awarded a decarbonisation project by TotalEnergies to support flare gas recovery in the North… Read More
Shelf Drilling wins $54-million North Sea contract
Oslo-listed Shelf Drilling has secured a contract for the Shelf Drilling Fortress jack-up rig with an undisclosed North Sea operator… Read More
In new agrivoltaics vision, Australia solar farm integrates sheep
A 720-MW Australian solar farm is pioneering a model of agrivoltaics with livestock integration by playing host to more than… Read More
Sapura wins underwater services contract in Malaysia
Malaysia’s Sapura Energy has been awarded a five-year contract from Thailand’s PTTEP to conduct Pan Malaysia subsea services for Petronas… Read More
Qatar strikes $6-billion deal with China shipyard for LNG carriers
QatarEnergy has struck a USD 6-billion deal with the China State Shipbuilding Corporation (CSSC) to build 18 of the largest… Read More