Eight additional jack-up barges expand ADNOC L&S’ fleet to 39
ADNOC Logistics and Services (ADNOC L&S) has taken delivery of eight self-propelled jack-up barges (JUBs) through its subsidiary Zakher Marine International (ZMI) Holdings.
With this expansion, the number of JUBs owned and operated by ADNOC L&S has increased from 31 to 39, reinforcing the Company’s status as the owner and operator of one of the largest fleets of JUBs in the GCC region. This expansion comes at a time when JUB charter rates are robust due to high demand for offshore services.
The additional JUBs include the purchase of two newbuild and four second-hand ones, in addition to the chartering of two newbuild JUBs. One of the barges will serve the Iraqi market, marking ADNOC L&S’ entry into a new market and supporting the company’s regional expansion.
New opportunities
“ADNOC L&S is committed to exploring new opportunities for expansion to continue driving value for our shareholders and strengthen our position as the region’s largest integrated logistics provider,” commented Captain Abdulkareem Al Masabi, CEO, ADNOC L&S.
ADNOC L&S acquired ZMI Holdings in 2022 as part of its strategic value creation and growth program. The acquisition added critical marine support assets to ADNOC L&S’ offshore fleet, extending its regional footprint and creating new opportunities for expansion with an industry-recognized partner, said a press communique.
“With our established presence in Saudi Arabia, Qatar, and now Iraq, we are strategically positioned to further expand our operations across Asia and explore new markets,” remarked Ali El Ali, CEO, ZMI Holdings.
