KKR and BlackRock sign ADNOC pipeline deal with US$4bn investment
25 February, 2019
The Abu Dhabi National Oil Company (ADNOC) has signed a US$4bn (£3bn) deal with investment firms KKR and BlackRock to form a new pipeline partnership.
The state-owned company’s subsidiary, ADNOC Infrastructure, will hold a 60% stake in ADNOC Oil Pipelines, with KKR and BlackRock owning the remaining 40%.
All of ADNOC’s stakes in 18 pipelines will be leased by the new partnership for 23 years, which together have a combined total length of more than 750km.