New UAE-Kazakh joint venture to support energy companies in Caspian Sea

UAE-based the AD Ports Group and Kazmortransflot (KMTF), a fully-owned offshore logistics and services subsidiary of Kazakh National Oil Company, have entered into an agreement to establish a new joint venture company that will provide offshore and shipping services for energy companies in the Caspian Sea.

The joint venture will offer a broad range of services including offshore support vessels (OSVs) and integrated offshore logistics and subsea solutions. At a later stage, it will offer container feedering, Ro-Ro, and crude oil transportation in the Caspian and Black Seas.

The new company will be 51 per cent owned by the AD Ports Group and 49 per cent owned by KMTF.