Abu Dhabi sovereign wealth fund Mubadala Investment Co has agreed to participate in the EIG-led consortium which is investing $12.4bn in a 49% stake in the newly-formed Aramco Oil Pipeline Co (MEES, 16 April).

A spokesperson for Mubadala confirmed to MEES that “Mubadala, the Abu Dhabi-based sovereign investment company, today [9 June] announced that it has joined the EIG-led consortium which has entered into a transaction with Saudi Arabian Oil Co. (“Aramco”) to acquire a 49% equity stake in the newly-formed entity Aramco Oil Pipelines Company… the new entity has rights to 25-years of tariff payments for oil transported through Aramco’s stabilized crude oil infrastructure network, backed by minimum volume commitments.” (CONTINUED - 134 WORDS)