Riyadh, June 22 - Neftegaz.RU. Saudi Aramco has completed the sale of a 49% stake in the newly formed Aramco Oil Pipelines for $12.4 billion to an international investor consortium led by the U.S.-headquartered EIG.
It represents a continuation of Aramco’s strategy to unlock the potential of its asset base and maximize value for its shareholders, it said in a statement.
A newly-formed unit called Aramco Oil Pipelines Company will lease usage rights in Aramco’s stabilized crude oil pipelines network for a 25-year period.
Saudi Aramco said the deal was one of the world’s largest energy infrastructure deals.
The sale is in line with its plans to «unlock value and maximise shareholder returns».Aramco president and CEO Amin Nasser said:
- We are pleased to conclude this transaction with the global consortium
- The interest we have received from investors shows strong confidence in our operations and the long-term outlook for our business
- The sale is a significant milestone that reflects the value of our assets and paves the way forward for our portfolio optimization strategy
- We plan to continue to explore opportunities to capitalise on our industry-leading capabilities and attract the right type of investment to Saudi Arabia
