The headquarters of Adnoc. The agreement between Adnoc L&S and Adnoc Offshore includes the provision of port services, warehouse operations, heavy lifting, material handling and shipping. AFP
The headquarters of Adnoc. The agreement between Adnoc L&S and Adnoc Offshore includes the provision of port services, warehouse operations, heavy lifting, material handling and shipping. AFP
The headquarters of Adnoc. The agreement between Adnoc L&S and Adnoc Offshore includes the provision of port services, warehouse operations, heavy lifting, material handling and shipping. AFP
The headquarters of Adnoc. The agreement between Adnoc L&S and Adnoc Offshore includes the provision of port services, warehouse operations, heavy lifting, material handling and shipping. AFP

Adnoc L&S unveils logistics platform and signs $2.6bn contract with Adnoc Offshore


Sarmad Khan
  • English
  • Arabic

Adnoc Logistics & Services, an Adnoc subsidiary, on Wednesday unveiled its global Integrated Logistics Services Platform (ILSP) and said it has signed a $2.6 billion contract with Adnoc Offshore to provide logistics services.

The five-year agreement, with the option of a five-year extension, will see more than 80 per cent of the contract value flowing back into the UAE’s economy through Adnoc’s In-Country Value (ICV) programme, the company said in a statement.

The agreement includes the provision of port services, warehouse operations, heavy lifting, material handling and shipping, rig and barge moves, marine terminal operations and waste management services.

“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,” said Abdulkareem Al Masabi, chief executive of Adnoc L&S.

“The ILSP is a unique offering that centralises all logistics requirements for our customers through a single interface, optimising efficiencies and reducing logistics costs.”

The ILSP is among the largest turnkey offshore logistics offerings in the world that will enable Adnoc L&S to co-ordinate end-to-end management of logistics and maritime operations from its Mussafah base in Abu Dhabi.

The platform is created as part of the company’s commitment to support the “continued growth of the region’s energy sector”.

By managing all logistics requirements through one system, ILSP can reduce project logistics costs, with customers being invoiced in a cost-per-tonne format, moving away from the standard asset lease model, Adnoc said.

The partnership will “enhance the efficiency of our operations, as we continue to strengthen Adnoc’s position as a low-cost, lower carbon intensity energy producer”, said Tayba Al Hashemi, chief executive of Adnoc Offshore.

Adnoc L&S is undertaking a global expansion programme, aimed at offering a broader service to its customers while supporting and enabling the growth of Adnoc’s upstream and downstream operations.

The company has the most diversified fleet in the Middle East, owning 245 vessels and managing more than 600 vessels annually.

Its fleet and its 1.5 million square metres integrated logistics base position the company as a global maritime logistics leader, Mr Al Masabi said.

The deal follows Adnoc Offshore's award of a $1.17 billion contract to Adnoc L&S to boost its offshore production capacity.

The deal signed in August last year includes hiring 13 self-propelled jack-up barges to be used across Adnoc's offshore fields to drive its offshore operational efficiencies and support the expansion of its oil production capacity, it said at the time.

In July last year, Adnoc L&S bought Zakher Marine International, an Abu Dhabi-based company that owns and operates offshore support vessels, to expand its fleet.

In June, the company bought three new liquefied natural gas vessels to expand its fleet in order to meet rising demand for LNG globally.

SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2)
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How Filipinos in the UAE invest

A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.

Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).

Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
TYPES%20OF%20ONLINE%20GIG%20WORK
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THE SPECS

Engine: 1.5-litre turbocharged four-cylinder

Transmission: Constant Variable (CVT)

Power: 141bhp 

Torque: 250Nm 

Price: Dh64,500

On sale: Now

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
Martin Sabbagh profile

Job: CEO JCDecaux Middle East

In the role: Since January 2015

Lives: In the UAE

Background: M&A, investment banking

Studied: Corporate finance

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

UAE currency: the story behind the money in your pockets
Updated: March 29, 2023, 12:22 PM`