Offshore staff
ABU DHABI, UAE – ADNOC Logistics & Services (ADNOC L&S) is acquiring UAE-based assets of Speedy Hire PLC.
Speedy is a UK provider of tools and equipment hire for the oil and gas, construction, and industrial sectors.
The acquisition covers over 2,000 pieces of equipment, including cranes, forklifts, firetrucks and other machinery used for offshore and onshore material handling services.
In addition, the two parties have sanctioned a transitional services agreement lasting up to four months to support the transfer.
During this time, Speedy’s UAE-based employees (around 600) will be on-boarded by ADNOC L&S at its Mussafah offshore logistics base.
Captain Abdulkareem Al Masabi, CEO of ADNOC Logistics and Services said: “We already have a sizeable offshore logistics base in Mussafah, the largest in the region, from which we provide offshore logistics solutions to nine locations, including six artificial islands.
“The assets we are acquiring will strengthen the integrated logistics services that we provide and deepen our offering within oil and gas logistics.”
ADNOC L&S provides offshore material handling services to ADNOC Offshore for nine offshore locations including six artificial islands and three natural islands within the UAE.
03/01/2021
