About Pearl Pipelines
In June 2021, EIG Pearl Holdings S.à r.l. (“Pearl Pipelines”) acquired a 49% stake in Aramco Oil Pipelines Company (“AssetCo”) from Saudi Arabian Oil Company (“Aramco”).
AssetCo has rights to tariff payments until 2046 for oil transported through Aramco’s stabilized crude oil pipeline network in the Kingdom of Saudi Arabia.
The transaction valued AssetCo at US$25.3bn.
The Pearl Pipelines network is essential strategic infrastructure to Saudi Aramco, the Kingdom of Saudi Arabia and is critical to the global economy as it transports 1 in every 8 barrels of oil to the global oil market1, with the oil transported among the lowest cost and lowest carbon intensity globally.
(1) Saudi Aramco’s crude oil production accounted for approximately 1 in every 8 barrels of crude oil produced globally from 2016 to 2020, based on data from the US Energy Information Administration (EIA).