In a joint venture with the Kazakh National Oil Company

"Abu Dhabi Ports" provides services to energy companies in the Caspian and "Black" seas

during the signing of the agreement.

Wham

The Abu Dhabi Ports Group has signed a partnership agreement with KMTF (Kazmortransflot), the maritime and logistical services company of the Kazakh National Oil Company (Kaz Money Gas), providing for the launch of an exclusive joint venture, with 51% ownership shares distributed to Abu Dhabi Ports. And 49% to KMTF, with the aim of providing marine and shipping services to energy companies operating in the Caspian and Black Sea regions.

The project, which will seize the available investment opportunities, provides a wide range of services, including support for marine service vessels, integrated logistics services for the maritime sector, provision of underwater services, in addition to providing regional transshipment services for containers, rolled goods and crude oil in the Caspian Sea and the Black Sea in the region. A later stage, in addition to participating in a number of future projects identified through a number of marine contracts worth more than $780 million.

The integration between Abu Dhabi Ports Group's diversified portfolio of global marine services on the one hand, and the shallow water operations and strong fleet of "KMTF" on the other hand, makes the new joint venture a major player in the Caspian and Black Sea regions.

The project is expected to help create new opportunities throughout the region, especially in the field of development work currently underway for fleets, facilities, and marine projects.

In addition, Abu Dhabi Ports and KMTF signed a seven-year agreement through which the joint venture will provide several tankers for the transportation of crude oil.

Under the agreement, the KMTF tankers will work with an Aframax tanker belonging to the Seven Group, with the aim of increasing the capacity so that the two parties can transport eight to 10 million tons of crude oil annually, with plans to acquire more. ships in the near future.

Falah Mohammed Al Ahbabi, Chairman of the Board of Directors of the Abu Dhabi Ports Group, affirmed the group's aspiration to employ its expertise to support the agreement, in a way that enhances trade and economic relations with friendly countries, in accordance with the directives of the wise leadership.

For his part, Chairman of the Board of Directors of "Kaz Monai Gas", Mirzagaliyev Magzum, said, "This agreement is an alliance between two international companies, and allows for the integration of unique capabilities and extensive knowledge and understanding of market needs."

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