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AD Ports Group, a leading facilitator of global trade, logistics and industry, has formed a joint venture with Kazakhstan’s KMTF to target opportunities to bid for some identified projects worth over US$780 million.
To this end, Abu Dhabi Ports Group has signed a shareholder agreement with KMTF (Kazmortransflot), an offshore logistics and services subsidiary wholly owned by KazMunayGas, to form an exclusive joint venture, with AD Ports holding 51% KMTF, which owns 49 percent of the shares, provides offshore and shipping services to energy companies in the Caspian Sea.
In addition, the two sides also signed an oil tanker resource sharing agreement. The joint venture will provide a wide range of services, including offshore support vessels, integrated offshore logistics and subsea solutions, and at a later stage provide container handling, ro-ro and crude oil transportation services in the Caspian and Black Seas.
new entrant
By combining AD Ports Group’s diversified global maritime services portfolio and shallow water offshore expertise with KMTF’s strong fleet, track record and local knowledge, the joint venture will be a significant new entrant in the high-value Caspian and Black Sea regions .
The effort is expected to create opportunities in the region, particularly with fleet and facility upgrades currently underway, as well as some large offshore projects such as the multibillion-dollar expansion of the Kashagan field.
AD Ports Group and KMTF also signed a seven-year vessel pool agreement, which includes the provision of tankers for international crude oil transportation. Furthermore, under the agreement, KMTF’s fleet will work alongside Safeen Group’s existing Aframax tankers, with the intention to purchase more vessels in the short term. The goal is to collectively transport 80-10 million tons of crude oil per year in the medium term.
important source
The Caspian Sea region is one of the world’s oldest oil-producing regions and an increasingly important source of global energy production.
Falah Mohammed Al Ahbabi, Chairman of AD Ports Group, said: “AD Ports Group wants to use our expertise to support agreements that promote trade and economic relations with brotherly countries. This new joint venture with KMTF opens the door to great opportunities in the Caspian Sea , the Caspian Sea plays a key role in global energy production and is served by big names in the energy sector. AD Ports Group has reached a new level of internationalization and growth by providing maritime services in this key market.”
Mirzagaliyev Magzum, Chairman of KazMunayGas, said: “This is an alliance of two world-class companies that complement each other’s strengths and understanding of the market. As the world looks for reliable energy under challenging conditions, we will be able to provide A comprehensive service portfolio backed by a fleet of vessels and expert teams that combine local knowledge with global experience. Companies operating in the Caspian Sea oilfields are looking for a reliable partner and a wide range of value-added services. KMTF and AD Ports Group have joined forces to would provide the ideal solution.”
Maritime Services
Capt Mohamed Juma Al Shamisi, Managing Director and Group Chief Executive Officer, AD Ports Group, said: “Throughout 2022, AD Ports Group has been looking to develop international commercial interests and expand the portfolio of maritime services we are able to offer to clients globally, in support of the UAE’s Leadership’s vision. This joint venture is the first of its kind between the UAE company and Kazakhstan’s national oil company and reflects the extent and speed with which we have grown and the fact that we now offer advanced offshore services in key global markets Ability.” — trade arab news agency
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