Mubadala in talks to join EIG-led consortium in Saudi Aramco oil pipeline deal

11/04/2021 Argaam

Logo of Mubadala Investment

Mubadala Investment Co. might join a consortium in a $12.4 billion worth deal to buy a 49% stake in Saudi Aramco’s oil pipelines venture, Al Sharq TV reported, citing the company spokesperson.

 

Mubadala is having talks with the consortium, led by US-based EIG Global Energy Partners (EIG), but no final agreement is reached yet, the spokesperson added.

 

According to data compiled by Argaam, Saudi Aramco signed, on April 9, 2021, a deal with EIG-led consortium to optimize its assets through a lease-and-lease-back agreement involving its stabilized crude oil pipeline network.

 

As part of the transaction, a newly-formed Aramco subsidiary, Aramco Oil Pipelines Company, will lease usage rights in the oil giant’s stabilized crude oil pipelines network for a 25-year period.

 

Meanwhile, Aramco will hold a 51% majority stake in the new company and the EIG-led consortium will hold a 49% stake.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read