
The Abu Dhabi-based ADNOC group has confirmed that it is to consolidate a number of its shipping, marine and service companies in a bid to streamline operations and reduce costs. The Abu Dhabi National Tanker Company (ADNATCO), Petroleum Services Company (ESNAAD) and Abu Dhabi Petroleum Ports Operating Company (IRSHAD) will be integrated to form a single business, as yet unnamed.
H.E. Sultan Ahmed Al Jaber, UAE minister of state and ADNOC group chief executive, said, “The consolidation will capture synergies, generate savings and ensure value creation. Upon completion of the integration, the new company will be uniquely positioned to further extend its services to customers worldwide.”
The consolidated company will provide global seaborne transportation and storage services related to petroleum products and other shipping sectors. The new company will also offer a range of marine, ports and related oilfield and logistical services, including petroleum ports operation, pilotage services, supervision of crude transfer operations, single point mooring (SPM) terminal maintenance services, high speed craft operations, and port and container yard operations.
In total this new company will operate over 165 vessels, including LNG tankers, bulk carriers, chemical and products tankers, container vessels, as well as modern multi-purpose vessels and support vessels. As such it will be one of the biggest shipping companies in the region.
Work consolidating the various ADNOC divisions into a single marine and services company is underway under the guidance of an ADNOC appointed steering committee. The process of integration is expected to be completed by the end of 2017.
The National Gas and Shipping Company (NGSCO), in which ADNOC owns a 70 % stake, will remain a separate company. ADNOC intends, however, to transfer its NGSCO shareholding to the new company, and eventually integrate its operations to maximise potential synergies.



















