New Joint Venture 'One Marine' Aims to Transform Offshore Services Across GCC and Beyond

Introduction

In a groundbreaking move for the offshore marine service industry, the International Marine Construction Company (IMCC), a prominent player based in Kuwait since 1974, has partnered with Maridive Offshore Projects of Egypt to establish a new joint venture known as 'One Marine'. This significant collaboration aims to enhance offshore support operations and integrated marine services across various regions, including the GCC, Middle East, Asia, and beyond.

Formation of a Strategic Partnership

The joint venture's official announcement was made on November 4, 2025, during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). The agreement was signed by IMCC's Chairman, Ahmad Saad Al-Mnaifi, and Shahira Zeid, Chairwoman of Maridive Offshore Projects. This partnership marks a strategic milestone in regional marine cooperation, pooling the operational strengths and technical resources of both companies to meet the increasing demand for offshore services in the energy, ports, and infrastructure sectors.

Objectives of 'One Marine'

Headquartered in Abu Dhabi Global Market (ADGM), 'One Marine' aspires to become a key player in the offshore marine services landscape. By leveraging the combined expertise and assets of IMCC and Maridive, the venture aims to deliver high-quality, efficient, and safe operational support to a multitude of industries. This includes providing logistics and maintenance solutions tailored to the needs of diverse sectors ranging from energy to infrastructure development.

Leadership and Management

Maen Razouqi, the Vice Chairman and CEO of IMCC, will take on the role of Chairman for 'One Marine'. He expressed optimism about the new venture's potential, highlighting that it signifies an important step in IMCC's growth within the region. Razouqi emphasized that 'One Marine' is strategically poised to become one of the largest and most capable offshore marine service providers, harnessing the deep operational expertise of both companies. Furthermore, he pointed out that this partnership underscores IMCC's commitment to fostering sustainable alliances that enhance performance and regional integration in the marine industry.

Conversely, Mohammed Nadim, the CEO of Maridive Offshore Projects, will serve as Vice Chairman of 'One Marine'. Nadim remarked on the strategic alignment that this venture represents, noting the shared values of excellence and innovation between the two leading companies. He stressed that 'One Marine' would utilize the combined experience of over 80 years between IMCC and Maridive to provide integrated offshore solutions that cater to the industry's rising demand for efficiency, safety, and sustainability.

Market Impact and Future Prospects

The establishment of 'One Marine' is not only a pivotal milestone for IMCC and Maridive but also reflects the broader trends in the offshore services market. The move is indicative of an increasing tendency to collaborate among regional leaders to foster innovation and efficiency. The joint venture aims to position itself as a preferred partner in navigating the challenges of the evolving marine landscape, ensuring that it remains at the forefront of the industry.

Supporting the establishment of this new venture, Gate Capital, a corporate finance advisory firm based in Dubai, has been a valuable ally. Munther Hilal, CEO of Gate Capital, described the collaboration as a significant transaction that highlights the importance of structured partnerships within the regional marine sector.

Conclusion

As 'One Marine' embarks on its journey, the collaboration between IMCC and Maridive is expected to enhance the competitiveness of both companies in the offshore marine services market. With strong leadership and a clear strategic vision, the joint venture is set to play a pivotal role in the future of offshore operations across the GCC, the Middle East, and beyond. The collective experience and innovative capabilities of both IMCC and Maridive could redefine service delivery standards in the offshore marine industry, ultimately benefiting clients and stakeholders alike.