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AD Ports Group signs deals to expand Kazakhstan oil industry

January 19, 2023
oil and gas

Collaboration with national firm on Caspian and Black Sea projects Kazakh chairman says deal will help manage growing exports

ABU DHABI: AD Ports Group has signed deals with Kazakhstan’s national oil company and government to develop shipping fleets and facilities on the Caspian and Black Seas to aid growing exports.

The KazMunayGas partnership agreement will explore projects including the development of a new shallow-water fleet to support operations in the Caspian and a tanker fleet to carry Kazakh oil exports.

AD Ports has also signed a memorandum of understanding with the Ministry of Industry to develop international trade and transport corridors, including upgrading port and logistics facilities and strengthening the national maritime fleet.

The agreements expand on the shareholder agreement signed in December with Kazmortransflot, a subsidiary of KazMunayGas, to establish a joint venture that will provide offshore services to energy companies in the Caspian.

The deals were signed in the presence of UAE President Sheikh Mohamed bin Zayed and Kazakh President Kassym-Jomart Tokayev.

AD Ports Group Chairman Falah Mohammed Al-Ahbabi said the deal with KazMunayGas “aligns with the strategic priorities of the UAE and establishes a strong platform for growth in Kazakhstan and the wider region.”

The company’s CEO Mohamed Juma Al-Shamisi added that the deal “provides us with a solid foundation for growth in one of the most important markets.”

KazMunayGas Chairman Mirzagaliyev Magzum said the agreement would help address the challenges of a growing industry and help develop port infrastructure and shipping.

Kazakh Minister of Industry and Infrastructure Development Marat Karabayev said the deals “represent an important step forward in the fraternal economic relationship between the Republic of Kazakhstan and the UAE.

“We see significant potential in developing port and logistics facilities in Kazakhstan to enhance our role as a trade corridor and increase export opportunities for our companies,” Karabayev added.

AD Ports Group will also work with Abu Dhabi Maritime Academy to develop bespoke training and development programs for Kazakh teams.

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