Abu Dhabi - Mubasher: The Abu Dhabi National Oil Company (ADNOC) announced on Tuesday its intention to integrate the operations of the Abu Dhabi Marine Operating Company (ADMA-OPCO) and Zakum Development Company (ZADCO), according to Emirates News Agency (WAM).
ADNOC wants to merge the two companies into a single new company to enable efficiencies and synergies across the multiple offshore concessions and fields.
With ADNOC’s recent focus on driving efficiency, performance and profitability without compromising health and safety environment (HSE) and asset integrity the consolidation is a logical step to help achieve these objectives, said Sultan bin Ahmad Sultan Al Jaber, Minister of State and CEO of the ADNOC Group.
"The consolidation will facilitate enhanced operational performance while providing strategic benefits for future growth and advanced technology integration,” Al Jaber said.
“It will unite our offshore experience, streamline governance and decision making, and give management a better line of sight through the company’s operations," he added.
