AD Ports Group, the leading facilitator of global trade, logistics, and industry, has signed a shareholder agreement with KMTF (Kazmortransflot), a fully-owned offshore logistics and services subsidiary of the Kazakh National Oil Company (KazMunayGas), to launch an exclusive joint venture in order to provide offshore and shipping services for energy companies in the Caspian Sea.
The joint venture, 51 percent owned by AD Ports Group and 49 percent owned by KMTF, will offer a broad range of services, including offshore support vessels, integrated offshore logistics, and subsea solutions.
According to the statement, “In the later stage, the JV will offer container feedering, ro-ro, and crude oil transportation in the Caspian Sea and the Black Sea.” The enterprise will tender for a number of identified projects with estimated maritime contract values of more than $780 million.
Furthermore, the two parties have signed an agreement to pool tanker resources, the company said in a statement.
HE Falah Mohammed Al Ahbabi Chairman – Abu Dhabi Ports
“Under the direction of our wise leadership, AD Ports Group is looking to deploy our expertise in support of agreements that boost trade and economic relations with brotherly nations. This new joint venture with KMTF opens the door to enormous opportunities in the Caspian Sea, which plays a key role in global energy production, and is serviced by prominent players within the energy sector. By providing maritime services in this key market, AD Ports Group has reached a new level of internationalization and development.”
By combining AD Ports Group’s diverse portfolio of global maritime services and shallow water offshore expertise with the strong fleet, track record, and local knowledge of KMTF, the joint venture will create an important new entrant in the highly valued Caspian Sea and the Black Sea region.
Mr. Mirzagaliyev Magzum, Chairman, KazMunayGas, said that, “This is an alliance of two world-class companies who complement each other’s strengths and understanding of the market. As the world looks for reliable energy sources in challenging conditions, we will be able to provide a full portfolio of services supported by a modern fleet and teams of experts combining local knowledge and global experience.”
This joint venture – which is the first of its kind between a UAE company and the Kazakh National Oil Company – reflects how far and how fast we have grown, and how capable we now are of providing advanced offshore services in key global markets,” commented Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group.
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