Skip to main content

Lunate acquires 40% stake in ADNOC's pipeline assets

Published by , Editorial Assistant
World Pipelines,

Abu Dhabi alternative investor, Lunate, on Wednesday 3 April said it acquired a 40% stake in Abu Dhabi National Oil Company's oil pipeline infrastructure assets from BlackRock and KKR, according to Reuters.

The acquisition was made by one of Lunate's funds, which the company said was executed through the purchase of a 100% stake in a special purpose vehicle jointly held by the two companies' managed funds, Lunate said in a statement.

The terms and value of the deal were not disclosed. BlackRock and KKR did not comment on the statement.

BlackRock and KKR bought the stake for US$4 billion in 2019 in a landmark deal, becoming the first foreign investors to acquire infrastructure assets of a national oil company in the Gulf.

ADNOC Oil Pipelines was set up in 2019 to lease ADNOC's ownership interests in 22 pipelines, transporting crude oil and condensates across ADNOC's upstream concessions for a 23 year period.

The pipelines include 17 onshore and 5 offshore pipelines across the region, covering 806 km with a total capacity of 18 million bpd.

Lunate is part of a business empire overseen by Sheikh Tahnoun bin Zayed Al Nahyan, the United Arab Emirates' national security adviser and brother of UAE President Sheikh Mohammed bin Zayed Al Nahyan.

Sheikh Tahnoun also chairs the Abu Dhabi Investment Authority, estimated by wealth fund tracker Global SWF to manage US$968 billion in assets, and ADQ, Abu Dhabi's third largest wealth fund.

The company, which manages US$105 billion of assets, invests across private markets including buyouts, growth equity, early and late stage venture capital, private credit, real assets, and public equities and public credit, according to its website.



Read the latest issue of World Pipelines magazine for pipeline news, project stories, industry insight and technical articles.

World Pipelines’ April 2024 issue

The April 2024 issue of World Pipelines includes a keynote section on compliance and standards, along with technical articles on cathodic protection, damage and defect assessment, HDD, integrity and offshore pipelines.

Read the article online at:

You might also like


Embed article link: (copy the HTML code below):


This article has been tagged under the following:

Middle East pipeline news


World Pipelines is not responsible for the content of external internet sites.