GIC to invest $600m in ADNOC's crude pipelines

It will take a 6% stake in ADNOC Oil Properties along with BlackRock and KKR.

Sovereign wealth fund GIC has agreed to invest $600m in the Abu Dhabi National Oil Company’s (ADNOC) select crude pipeline infrastructure, an announcement revealed. GIC’s investment follows the $4.3b total investment from BlackRock, KKR and the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF).

This takes the combined lease-based investment of GIC, ADRPBF, KKR and BlackRock to $4.9b.

This follow-on investment agreement will see GIC acquire a 6% stake in a newly formed entity, ADNOC Oil Pipelines LLC (ADNOC Oil Pipelines), with BlackRock and KKR together holding 40%, ADRPBF 3% and ADNOC the remaining 51%. Sovereignty over the pipelines and management of pipeline operations remain with ADNOC.

The transaction is expected to close before the end of 2019, subject to customary closing conditions and regulatory approvals.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia