Dubai, UAE – ADNOC Logistics & Services (ADNOC L&S) has signed an AED9.5 billion ($2.6 billion) contract with ADNOC Offshore to provide integrated logistics services.
The contract is part of its Integrated Logistics Services Platform (ILSP) that was unveiled Wednesday. ADNOC said the platform is one of the largest turnkey offshore logistics offerings in the world that enables coordinated end-to-end management of logistics and maritime operations at its base in Mussafah, Abu Dhabi.
The agreement runs for five years, with the option of a five-year extension, and includes the provision of port services, warehouse operations, heavy lifting, material handling and shipping, rig and barge moves, marine terminal operations and waste management services.
Over 80 percent of the contract value will flow back into the UAE’s economy through ADNOC’s successful In-Country Value (ICV) program, the company said.
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said, “The ILSP is a unique offering that centralizes all logistics requirements for our customers through a single interface, optimizing efficiencies and reducing logistics costs.”