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ADNOC L&S pens $2.6bn deal for integrated logistics services platform

ADNOC L&S pens $2.6bn deal for integrated logistics services platform
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UAE – Mubasher: ADNOC Logistics & Services (ADNOC L&S) launched its integrated logistics services platform (ILSP) to secure coordinated end-to-end management of logistics and maritime operations at its base in Mussafah.

The UAE company inked a contract worth $2.60 billion (AED 9.50 billion) with ADNOC Offshore in order to provide integrated logistics services, according to a press release.

ADNOC L&S established the ILSP in line with its objectives to back the continued growth of the region’s energy sector.

Meanwhile, the agreement holds a tenor of five years, with the option of extending the deal for the same period.

It covers the provision of port services, warehouse operations, heavy lifting, waste management services, and more.

More than 80% of the deal value will endorse the UAE’s economy through ADNOC’s successful In-Country Value (ICV) programme.

Abdulkareem Al Masabi, CEO of ADNOC L&S, commented: “We are very pleased to extend our decades-long collaboration with ADNOC Offshore as we unveil our ILSP and continue to revolutionise offshore oil and gas logistics.”

Tayba Al Hashemi, CEO of ADNOC Offshore, said: “Building on the world-class capabilities and expertise of ADNOC L&S, we are delighted to work in partnership to enhance the efficiency of our operations, as we continue to strengthen ADNOC’s position as a low-cost, lower-carbon intensity energy producer.”

Last year, ADNOC L&S sealed a definitive agreement to acquire ZMI Holdings.