ADNOC L&S, the logistics arm of ADNOC Group, had over 100 global customers in more than 50 countries and a fleet of 233 vessels as of December 2023. In June 2023, ADNOC L&S was listed on ADX following its $769 million IPO. The IPO was oversubscribed 163 times, the highest-ever oversubscription level for a U.A.E. bookbuild IPO, with a total demand of over $125 billion. In June 2023, ADNOC L&S was awarded a $975 million engineering, procurement, and construction contract for a new offshore artificial island by ADNOC Offshore.