Abu Dhabi Operator to Build Artificial Island for ADNOC Offshore
ADNOC Logistics and Services has been awarded a US$975 million EPC contract by sister company ADNOC Offshore to build an artificial island for the Lower Zakum offshore oilfield off Abu Dhabi.
As part of ADNOC’s in-country value programme, at least 75 percent of the total contract value for dredging, land reclamation and marine construction of the island dubbed “G” will flow back into the UAE economy, the Abu Dhabi-based maritime specialist said.
This is the first major award for ADNOC L&S after it listed on the Abu Dhabi Securities Exchange, or ADX, on 1 June 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,” said CEO Captain Abdulkareem Al Masabi.
“This contract award for the construction of artificial island ‘G’ exemplifies our strategy to tap into new growth areas, showcasing the expanding range of services we offer to our customers and the trust that ADNOC Offshore has placed in us as their partner of choice.”
ADNOC L&S manages a fleet of 540 vessels annually and a logistics base in Abu Dhabi of 1.5 million square metres that serves customers both within ADNOC Group and internationally. In addition to shipping, the company also specializes in marine services including petroleum port operations, diving services and oil spill response, and offshore and onshore services.
Parent company ADNOC is wholly owned by the Emirate of Abu Dhabi.
ADNOC L&S will be exhibiting at Breakbulk Middle East 2024, taking place on 12-13 February at the Dubai World Trade Centre, UAE.
TOP PHOTO: ADNOC L&S jack-up barge, Abu Dhabi. CREDIT: ADNOC L&S
