ADNOC Logistics & Services has secured a five-year, $2.6 billion deal with ADNOC Offshore and launched its Integrated Logistics Services Platform (ILSP). According to the company, it is one of the world’s largest turnkey offshore logistics offerings that enables coordinated end-to-end management of logistics and maritime operations at its base in Mussafah, Abu Dhabi.
The agreement includes the option of a five-year extension and includes the provision of port services, warehouse operations, heavy lifting, material handling and shipping, platform and barge movements, marine terminal operations and waste management, said ADNOC L&S.
More than 80 percent of the contract value will flow back into the UAE economy through ADNOC’s In-Country Value (ICV) program, the statement said.
“We are very pleased to extend our decades of partnership with ADNOC Offshore as we introduce our ILSP and continue to revolutionize offshore oil and gas logistics. The ILSP is a unique offering that centralizes all of our customers’ logistics requirements through a single interface, optimizing efficiency and reducing logistics costs,” said Abdulkareem Al Masabi, CEO of ADNOC L&S.
ADNOC L&S said it created the ILSP as part of its ongoing 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 clients billed in a unique cost-per-tonne format, moving away from the standard asset leasing model, the statement said.
“Building on ADNOC L&S’s world-class capabilities and experience, we are delighted to work in partnership to improve the efficiency of our operations, while continuing to strengthen ADNOC’s position as a low-cost power producer cost and low carbon intensity,” Tayba Al Hashemi, CEO of ADNOC Offshore.
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