Saudi Arabia: Aramco signs $12.4 billion infrastructure investment deal with EIG-led consortium
12 Apr 2021
One of the world’s largest energy infrastructure deals
Newly-formed entity, Aramco Oil Pipelines Company, to lease usage rights of Aramco’s stabilized crude oil pipeline network over 25-year period
Transaction reflects ongoing progress in Aramco’s portfolio optimization program, which aims to unlock value and maximize shareholder returns
Significant injection of foreign capital reinforces Aramco’s leading position in the international energy arena and Saudi Arabia’s appeal to prominent institutional investors globally
Aramco has signed a deal with a consortium led by
EIG Global Energy Partners, one of the world’s leading energy infrastructure investors, to optimize its assets through a lease-and-lease-back agreement involving its stabilized crude oil pipeline network.
88 Energy has provided a further update related to its operations in the NPR-A region of the North Slope of Alaska. Sidewall cores in Merlin-1 confirm presence of oil previously observed in cuttings.
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