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Home News AD Ports inks agreements with KazMunayGas and Kazakhstan government

AD Ports inks agreements with KazMunayGas and Kazakhstan government

AD Ports Group signed a strategic partnership agreement with Kazakh National Oil Company (KazMunayGas) and a Memorandum of Understanding (MoU) with Kazakhstan's Ministry of Industry & Infrastructural Development on 18 January 2023 in Abu Dhabi.

The agreements expand on a shareholder agreement made in December with KMTF (Kazmortransflot), a subsidiary of KazMunayGas, to establish an exclusive joint venture to provide offshore services for Caspian Sea energy businesses.

The two businesses will explore options to work on a wide variety of projects in the area, including the creation of a new fleet of shallow-water vessels to assist offshore activities in the Caspian Sea and the development of a tanker fleet to support Kazakh oil export.

The joint venture may also participate in bulk cargo transportation, examining prospects to build or purchase bulk cargo vessels in support of that endeavour. Through the Abu Dhabi Maritime Academy, AD Ports Group will also strive to provide customised training and development programmess for Kazakh crews.

AD Ports Group will look to collaborate on the development of international trade and transport corridors through the Republic of Kazakhstan, potentially developing port and logistics facilities, as well as enhancing the national maritime fleet, under the terms of the MoU with the Ministry of Industry and Infrastructural Development.

“We welcome these agreements, which represent an important step forward in the fraternal economic relationship between the Republic of Kazakhstan and the United Arab Emirates. We see significant potential in the development of port and logistics facilities in Kazakhstan to enhance our role as a trade corridor and increase export opportunities for our companies,” commented Marat Karabayev, minister of industry and infrastructural development of the Republic of Kazakhstan.





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