Field/project development

ADNOC’s Maritime Logistics Unit Grows Jackup Barge Fleet by 25%

High demand for offshore services makes for robust charter rates.

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A jackup barge.
Source: ZMI Holdings

ADNOC Logistics and Services (ADNOC L&S) has expanded its fleet of jackup barges (JUBs) by 25% after having taken delivery of eight self-propelled JUBs through its Zakher Marine International (ZMI) Holdings subsidiary.

With a JUB fleet now of 39, the maritime logistics unit is continuing to build its capability as owner and operator of one of the largest barge fleets in the Gulf Cooperation Council (GCC) region, ADNOC said in its announcement.

The multifunctional barges are designed to handle a range of well services including operations, maintenance, and accommodation at offshore fields.

One of the new JUBs will work in Iraqi waters, a new market for ADNOC L&S that supports the company’s regional expansion. Of the eight additional barges, two were purchased as newbuilds, four as secondhand, and two more newbuilds are chartered.

JUB charter rates are robust given the current high demand for offshore services, the company said.

“The addition of these self-propelled jackup barges to our growing integrated logistics and shipping fleet aligns with our ambitious, smart growth strategy, enabling us to provide a broader range of services to our customers and unlock new and sustainable value for ADNOC L&S as we venture into new markets,” the company’s CEO Abdulkareem Al Masabi said.

ADNOC L&S acquired ZMI Holdings in 2022, adding critical marine support assets to its offshore fleet, extending its regional footprint, and creating new opportunities for expansion with an industry-recognized partner.

Ali El Ali, CEO of ZMI Holdings, said the UAE business is “one of the largest players in the GCC region’s maritime logistics” with a “fleet of jackup barges and offshore support vessels (that) enables us to offer best-in-class maritime logistics services to the offshore production and wind sectors. With our established presence in Saudi Arabia, Qatar, and Iraq, we are strategically positioned to further expand our operations across Asia and explore new markets.”

The rising demand for JUBs is driven by increased offshore energy production, particularly in shallow-water fields and the offshore wind sector.