One of the region’s leading petrochemicals companies, Borouge, has awarded ADNOC Logistics & Services (ADNOC L&S), the shipping and services arm of the Abu Dhabi National Oil Company (ADNOC), a three-year contract to transport 11 million tonnes of polymers from its Ruwais container terminal in Abu Dhabi, to Khalifa and Jebel Ali Ports, in Abu Dhabi and Dubai respectively.
The contract, awarded after a competitive bidding process, follows the signing last May of a 5-year agreement between ADNOC L&S and Borouge for the management of cargo handling operations at the latter’s Ruwais terminal. This facility can handle up to 800,000 teu a year.
The latest contract was signed by Borouge Chief Executive, Ahmed Omar Abdulla, and Captain Abdulkareem Al-Masabi, Chief Executive of ADNOC L&S, in a ceremony held at Borouge’s stand during ArabPlast 2019, which was held in Dubai World Trade Centre from 5-8th January.
Captain Al Masabi said: “By combining our assets and experience in shipping, onshore logistics and onshore services we have created a fully-integrated marine and logistics company, now the largest in the region, to service customer needs across the oil and gas value chain. We offer a distinct advantage to companies, such as Borouge, in that we can support their diverse needs within port and shipping operations. We are confident that our partnership with Borouge is a model that can be replicated to win new business with other regional and international players.”
The contract with Borouge, a joint venture between ADNOC and Austria-based Borealis, supports ADNOC’s 2030 strategy to grow its downstream business. This will see the company tripling production of petrochemicals to 14.4 million tonnes per annum by 2025.