International Petroleum Investment Company

The International Petroleum Investment Company (IPIC) is an investment company established by the Government of the Emirate of Abu Dhabi pursuant to an Emiri Decree in 1984. IPIC�s mandate is to invest globally in energy and energy-related industries. The Government owns 100 per cent. of IPIC and appoints all the members of its board of directors. IPIC is a long-term strategic investor and it currently holds more than 15 investments in over 10 countries and on five different continents. Its investment portfolio currently includes:

• One wholly-owned operating company, Nova Chemicals, a leading North American plastics and chemicals company;
• Three majority-owned operating companies, being Borealis, one of the world's largest polyolefin producers, Aabar, a diversified investment company and Ferrostaal, a project developer and manager in the oil and gas and power industries; and
• Significant stakes in CEPSA, a leading Spanish integrated oil and petrochemicals company, Cosmo Oil, a leading Japanese refining and marketing company and Austrian-based OMV, a leading Austrian integrated oil and gas company with a presence throughout Central and Eastern Europe.

In addition, IPIC is currently undertaking the following strategic projects:

• The multi-billion dollar ChemaWEyaat project which is expected to involve a series of joint ventures that will host mega-chemical complexes with access to Abu Dhabi's gas and liquid petroleum feedstocks;
• The ADCOP pipeline, (the joint venture between Borealis and ADNOC where Borealis holds a 40.0 per cent. stake) which will be in excess of 370 kilometers and will connect Abu Dhabi's key onshore oil fields to an export terminal located in Fujairah on the Indian Ocean (outside the Arabian Gulf); and
• The continuing expansion of the Borouge project (a joint venture in which the Company's 64 % owned subsidiary Borealis has a 40.0 per cent. stake in with ADNOC) to bring the latest technology and the highest level of expertise into Abu Dhabi to strengthen and develop Abu Dhabi's industrial base and hydrocarbon and petrochemicals industries.

IPIC’s Board of Directors is led by its Chairman, H.H. Sheikh Mansour bin Zayed Al Nahyan. All board members are appointed by Emiri Decree, including its Managing Director,HE Khadem Al-Qubaisi

External links

• Official website
• http://www.law360.com/registrations/user_registration?article_id=152563&concurrency_check=false