UAE's ADNOC seals $4 billion pipeline infrastructure deal with KKR, BlackRock | Reuters:
Abu Dhabi National Oil Company (ADNOC) has sealed a $4 billion midstream pipeline infrastructure deal with U.S. investment firms KKR and BlackRock, the Abu Dhabi government owned company said on Sunday.
A new entity called ADNOC Oil Pipelines will lease the oil firm’s interest in 18 pipelines, transporting crude oil and condensates across Adnoc’s offshore and onshore upstream concessions for a 23-year period, ADNOC said in a statement.
Funds managed by KKR and BlackRock will form a consortium to hold a 40 percent stake in the entity with ADNOC owning the remainder. ADNOC will have sovereignty over the pipelines and management of pipeline operations.
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