Aramco and an international investor consortium led by EIG and Mubadala declared the satisfactory completion of a share sale and purchase deal wherein the consortium bought a 49% stake in Aramco Oil Pipelines Company, an Aramco subsidiary, for $12.4 billion.

The consortium includes a diverse group of investors from North America, Asia, and the Middle East. The consortium's long-term investment demonstrates the attractive investment scheme provided by Aramco's internationally important pipeline assets, the company's strong long-term perspective, and Saudi Arabia's appeal to institutional investors.

Aramco Oil Pipelines Company and Aramco agreed to a 25-year lease and leaseback contract for Aramco's stabilized crude oil pipelines network as part of that deal, which had been originally proposed in April 2021. Aramco Oil Pipelines Company would be paid a fee for stable crude oil flows, which would be supported by minimum volume guarantees.

Aramco maintains a 51% share in Aramco Oil Pipelines Company and maintains complete ownership and operational management of its stable crude oil pipeline system. The deal imposes no limits on Aramco's actual crude oil production quantities, which seem to be up to the Kingdom of Saudi Arabia's production choices.

Eng. Amin H. Nasser, President & CEO of Aramco, remarked upon this occasion, "We are delighted to finalize this deal with the worldwide consortium." The interest we have obtained from investors demonstrates a high level of trust in our businesses and the long-term prospects for our organization.

It is a key milestone that represents the worth of our assets and prepares the path for our portfolio optimization approach to move forward. We want to keep looking for ways to leverage on our industry-leading competencies and find the right kind of investment to Saudi Arabia.”

“The interest we got for this offer demonstrates institutional investors' ongoing trust in our firm and establishes a new bar for infrastructure deals globally,” said Abdulaziz M. Al Gudaimi, Aramco senior vice president of corporate development. This deal makes use of our world-class pipeline network to generate extra value for our shareholders, enhancing our Company's resilience and capacity to react in a constantly transforming business environment.”

“We think this is the flagship infrastructure deal internationally, and we are delighted to observe that so many major international investors comply with us,” said R. Blair Thomas, chairman, and CEO of EIG.