AD Ports Group is partnering Kazakhstan’s Kazmortransflot in a joint venture that will provide offshore and shipping services for energy companies in the Caspian Sea.
The two companies have also agreed to pool their tanker resources, starting with three aframaxes.
The Abu Dhabi ports and shipping conglomerate will hold 51%, with the remaining 49% stake held by Kazmortransflot, a wholly owned subsidiary of the Kazakh National Oil Co (KazMunayGas).
