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IMCC and Maridive launch One Marine to capture offshore services demand

Kuwait's IMCC and Egypt's Maridive have formalised a joint venture based in Abu Dhabi to expand integrated offshore marine operations regionally and internationally.

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International Marine Construction Company (IMCC), a Kuwait-based firm specialising in offshore marine maintenance and construction, and Maridive Offshore Projects, an Egyptian oilfield services provider, have announced the launch of One Marine, a joint venture focused on integrated marine services. The new entity will be headquartered at Abu Dhabi Global Market, the UAE capital’s financial centre.

Regional and global ambitions

One Marine will merge the marine assets, technical resources, and operational expertise of both partners to deliver logistics, maintenance, and offshore support solutions for the energy, port and infrastructure sectors. The joint venture aims to operate across the Gulf Cooperation Council (GCC), the Middle East, Asia, and global markets.

The agreement was signed at the ADIPEC event in Abu Dhabi on November 4 by Ahmad Saad Al-Mnaifi, Chairman of IMCC, and Shahira Zeid, Chairwoman of Maridive Offshore Projects. The alliance represents a deepening of cooperation between two established offshore marine players in the region.

Leadership built around seasoned executives

Maen Razouqi, Vice Chairman and CEO of IMCC, will serve as Chairman of One Marine. He stated that the initiative marks a key milestone in IMCC’s regional expansion strategy, and that the joint venture aims to become one of the region’s most capable offshore marine service providers.

Mohammed Nadim, CEO of Maridive Offshore Projects, will act as Vice Chairman of One Marine. He noted that the partnership reflects a strategic alignment built on shared values of innovation and operational excellence, with the goal of delivering high-value offshore solutions.

Financial structuring backed by regional advisors

The formation of the joint venture was advised by Gate Capital, a Dubai-based corporate finance advisory firm. Its CEO, Munther Hilal, described the transaction as a “milestone deal” showcasing growing consolidation among Gulf maritime operators.

Through this new structure, IMCC and Maridive aim to address rising demand for integrated offshore solutions, amid shifting logistical needs and stricter operational requirements in the oil and gas sectors.

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