Adnoc Logistics and Services (Adnoc L&S) has acquired eight jack-up barges, increasing its barge fleet by 25% to a total of 39 vessels. This addition includes two newbuilds, four second-hand barges, and two newbuild charters. The move is in line with Adnoc L&S's growth strategy, enhancing its integrated logistics and shipping capabilities.

Captain Abdulkareem Al Masabi, CEO of Adnoc L&S, stated that this expansion aligns with their smart growth strategy and allows them to offer a broader range of services to their customers. It also supports their commitment to exploring new opportunities for expansion and strengthening their position as the region's largest integrated logistics provider.

Adnoc L&S will manage these jack-up barges through its subsidiary, Zakher Marine International (ZMI). The acquisition enables the company to tap into robust charter rates for jack-up barges, driven by high demand.

ZMI's CEO, Ali El Ali, emphasized that the company is one of the largest maritime logistics players in the GCC region. Adnoc L&S acquired ZMI in 2022, gaining access to 24 jack-up barges and 38 offshore support vessels. This extensive fleet positions them to provide top-tier maritime logistics services to the offshore production and wind sectors.

Furthermore, Adnoc L&S recently conducted an initial public offering (IPO) in June, raising $769 million by selling a 19% stake in the company. The funds from the IPO have contributed to Adnoc L&S's ongoing growth and expansion initiatives.

As part of its expansion efforts, one of the newly acquired jack-up barges will be deployed in Iraq, marking Adnoc L&S's entry into the Iraqi market. This move underscores the company's commitment to exploring new markets and delivering value to its shareholders.