The Emirati company “Lunit” announced on Wednesday, April 3, 2024, that one of its funds had acquired a 40% stake in “ADNOC Oil Pipelines” from “BlackRock” and “KKR”. “Lunit” had acquired – through its fund – Long-term capital, by purchasing a 100% stake in a special purpose vehicle owned by funds managed by BlackRock and KKR.

The company did not mention the value of the deal, but stated that its value amounts to more than four billion dollars, including debts. During 2019, BlackRock and KKR acquired the stake in ADNOC Oil Pipelines in the first investment of its kind in the Middle East for management companies. Foreign assets in the infrastructure of a government oil producer.

During its establishment in 2019 in Abu Dhabi, ADNOC Oil Pipelines Company benefited from the right to benefit from the share that ADNOC owns in 22 marine and land pipelines for a period of 23 years, through a concession agreement, and the pipeline group includes 17 land pipelines and about 5 marine pipelines spread across the country. The region extends for 806 kilometers, and the total capacity is about 18 million barrels per day.

The second partner in Lunit, Murtada Hussein, stated that investing in ADNOC Oil Pipelines is consistent with our long-term investment strategy, which aims to identify distinguished infrastructure assets in addition to investing in them, which provides the opportunity to invest in important assets in the Emirate of Abu Dhabi, and reflects Complete confidence in the UAE economy.