Abu Dhabi National Oil Company (Adnoc) plans to merge the operations of  three of its shipping, marine and services companies into one entity.

The state-owned company will combine Abu Dhabi National Tanker Company (ADNATCO), Petroleum Services Company (ESNAAD) and Abu Dhabi Petroleum Ports Operating Company (IRSHAD) in a move which it says will “drive efficiency, optimise resources and assets across their various operations to maximise value”.

The integration is expected to complete by the end of 2017.

The new company will operate over 165 vessels, including liquefied natural gas (LNG) vessels, bulk carriers, chemical and products tankers, container and container-feeder vessels, as well as multi-purpose vessels and support vessels, according to an announcement on state-owned Emirates News Agency (Wam).

“In the longer term, the consolidated company will enjoy a competitive advantage based on its ability to deliver high quality, integrated cost-effective services across the hydrocarbon value chain,” said the announcement.

The National Gas Shipping Company (NGSCO), in which ADNOC owns a 70 per cent stake, will remain a separate company. However, Adnoc intends to transfer its NGSCO shareholding to the new company and integrate its operations to “maximise potential synergies”, according to the announcement.

Earlier this month Adnoc announced it plans to combine its two largest offshore oil producers into one entity by early 2018, creating a new company with an estimated capacity of 1.2 million barrels a day (b/d).