Award supports company’s growth strategy to unlock fresh revenue streams
This award is a significant milestone in ADNOC Logistics & Services’ (ADNOC L&S) strategy to pursue new growth opportunities. ADNOC L&S’ Integrated Logistics business unit is an end-to-end, fully integrated energy logistics services provider.
The provision of Engineering, Procurement and Construction (EPC) services in the integrated logistics business is a new offering by ADNOC L&S in line with its announced strategy to achieve significant ongoing growth, including expansion into new verticals.
ADX listing
This is the first major award for ADNOC L&S after it listed on the Abu Dhabi Securities Exchange (ADX) on 1 June 2023 following the highest demand globally for an IPO this year.
“Capitalizing on our project management expertise, end-to-end logistics solutions, and strategic partnerships, ADNOC L&S is primed to execute major offshore EPC contracts that support our customers’ ambitious growth plans and deliver value to our shareholders,” commented Captain Abdulkareem Al Masabi, CEO, ADNOC L&S.
With a diverse fleet of 245 vessels and approximately 540 vessels operated and chartered annually, combined with its 1.5mn sqm logistics base in Abu Dhabi and integrated coordination capabilities, ADNOC L&S is the region’s largest shipping and integrated logistics companies.
ADNOC L&S is targeting an average annual EBITDA growth in the low teens over the medium term. This growth will be driven by new contract awards, further expansion of its Integrated Logistics Services Platform (ILSP), and optimized redeployment of jack-up barges, a press communique concluded.
