A recently formed joint venture, created by Abu Dhabi’s AD Ports Group and Kazmortransflot (KMTF), a subsidiary of the Kazakh National Oil Company, will provide offshore services as well as crude transportation for energy companies operating in the Caspian Sea and the Black Sea
The new venture, in which AD Ports has the majority 51% stake, will offer a broad range of services, including offshore support vessels, integrated offshore logistics and subsea solutions. At a later stage it is also expected to offer container feeder, ro-ro and crude oil transportation in the Caspian Sea and the Black Sea.
AD Ports and KMTF have also signed a seven-year tanker vessel pooling agreement. As a result, KMTF’s fleet will work alongside AD Ports’ subsidiary Safeen’s existing Aframax tanker operation, and the intention is to acquire further vessels in the short term. In the medium term the objective is to jointly carry 8-10 million tonnes of crude annually, the companies say.