AD Ports Group, KTMF consider Caspian logistics venture
Jan. 3, 2023
AD Ports Group has an agreement to form a joint venture with KMTF, with aims to offer services ranging from offshore support vessels to integrated offshore logistics and subsea solutions.
ABU DHABI, UAE – Logistics provider AD Ports Group has an agreement to form a joint venture with KMTF (Kazmortransflot), an offshore logistics and services subsidiary of the Kazakh National Oil Co. (KazMunayGas).
This will provide offshore and shipping services for energy companies in the Caspian Sea, and it will be 51% owned by AD Ports Group and 49% owned by KMTF. The two parties also have agreed to pool their tanker resources.
The new venture will offer services ranging from offshore support vessels to integrated offshore logistics and subsea solutions. These will expand at a later point to container feedering, ro-ro and crude oil transportation in the Caspian Sea and the Black Sea.
Targets include various projects with estimated maritime contract values of more than $780 million, and major offshore projects such as the multibillion-dollar expansion of the Kashagan Field in the Kazakh sector of the Caspian Sea.
