ADRPBF will invest 1.1 billion dirhams ($300 million) and will acquire a 3 percent stake in the newly formed entity, ADNOC Oil Pipelines, with BlackRock and KKR together holding 40 percent and ADNOC the remaining 57 percent, ADNOC said in a statement.

In February, ADNOC sealed a $4 billion midstream pipeline infrastructure deal with U.S. investment firms KKR and BlackRock.