Mubadala

Our history

Mubadala Investment Company was established to realize the vision of the founding father of the United Arab Emirates-- the late Sheikh Zayed bin Sultan Al Nayhan. Central to this is the growth and development of the economy, which lays the foundation of a thriving nation.  

The late Sheikh Zayed bin Sultan Al Nahyan championed the establishment of a progressive governmental structure and channeled newfound oil resources, struck in the 1950s, towards the creation of critical infrastructure, such as hospitals and universities, for generations to come.

Established in 1984, International Petroleum Investment Company (IPIC) was created to advance Abu Dhabi’s natural petroleum wealth for the development of the emirate. Mubadala Development Company followed in 2002 to further diversify the economy. Both swiftly flourished into active worldwide investors across multiple sectors. 

Expanding this visionary heritage of excellence, Mubadala Investment Company was created in 2017 as a global investment powerhouse for Abu Dhabi.

Today, Mubadala Investment Company operates across a diverse portfolio spanning more than 30 countries globally, continuing the vision of our founding father.

Our contribution to a diversified economy

 
 
1984

The International Petroleum Investment Company (IPIC) is established by the UAE’s founding father, Sheikh Zayed Bin Sultan Al Nahyan, to advance the vision of using Abu Dhabi’s natural petroleum wealth to build a modern, diversified economy. IPIC goes on to create a portfolio of investments in 18 leading companies spanning 30 countries worldwide.

1988

Cepsa, one of Spain’s leading integrated energy companies, is the first addition to IPIC's portfolio. Today, it is the world’s largest producer of raw materials for household essentials such as detergents and personal care products, with 11,000 employees across eight countries.

1994

IPIC's 24.9% stake in OMV, one of Austria’s largest listed companies, brings with it refining knowledge and technology, greater exposure to the hydrocarbon value chain and a platform to expand into Central and Eastern Europe.

1995

IPIC acquires a 14.8% stake in SUMED (Arab Petroleum Pipelines Company), which owns oil pipelines that extend across Egypt from the Gulf of Suez to the Mediterranean. Approximately 80% of Arab Gulf crude oil travels via SUMED to Europe’s refinement centers.

1995

A joint venture between the Government of Pakistan (60%) and IPIC (40%), PARCO has the most modern refinery in Pakistan with a capacity of 100k barrels per day, significantly enhancing Pakistan’s economic growth.

1998

IPIC acquires a 64% stake in Borealis, one of the world’s largest producers of polyolefin – a polymer produced from oil and natural gas. Borealis in turn creates the Abu Dhabi-based petrochemical company, Borouge, a groundbreaking joint venture with ADNOC that brings key production capabilities to the UAE.

2000

In one of its first efforts to create synergies across its international portfolio, IPIC extends OMV’s expertise into Pakistan through PARCO.

2004

OMV buys a 50% stake in Petrom, the largest corporation in Romania and the largest oil and gas producer in Southeast Europe, marking IPIC’s first entry into the Eastern European market.

2004

In a joint venture with Emirates National Oil Company, Oman Oil and Thales, IPIC establishes Gulf Energy Maritime, today rated among the top ten independent product/chemical tanker companies in the world.

2007

IPIC acquires a 20.8% stake in Cosmo Energy, Japan’s largest oil refining and marketing company, which engages in crude oil exploration and production operations in the UAE and Qatar.

2008

IPIC acquires an interest in Aabar Investments PJS, an Abu Dhabi-based diversified investment company active in real estate, financial services, commodities and aerospace.

2008

A 50/50 joint venture investment fund between IPIC and Kazakhstan entities, the US $500 million Falah Growth Fund is established to focus on mid-market investment opportunities in Kazakhstan, Russia and the CIS states across sectors such as oil and gas, power, food production, infrastructure, natural resources and real estate.

2008

IPIC acquires a 4.1% stake in power company Energias de Portugal, a leading generator, distributer and supplier of electricity in Portugal.

2008

A 50/50 joint venture between IPIC and Qatar Holdings (a subsidiary of QIA), QADIC is established in Doha as a diversified global investment company with committed capital of US $2 billion. QADIC focuses on mid-market investment opportunities across a broad range of sectors.

2009

Operating in Papua New Guinea since 1929, Oil Search issues a five-year exchangeable bond to IPIC, to be converted at its maturity to equity in the company. Oil Search’s primary asset is its 29% interest in the Papua New Guinea LNG project developed and operated by Exxon Mobil.

2009

IPIC makes a strategic acquisition in petrochemicals company, Nova Chemicals; today, the company is ranked among North America’s leading producers of plastics and chemicals, and since joining the IPIC portfolio has increased ten-fold in value.

2009

Aabar Investments acquires the private banking business of AIG and rebrands as Falcon Private Bank, with a focus on providing wealth management solutions to high net worth clients in the Middle East and Europe.

2010

Aabar Investments launches its real estate arm, Aabar Properties, specialized in the design, construction and handover-to-completion of residential, commercial, retail, hospitality and mixed-use projects. To date, Aabar Properties has more than 26 projects in the UAE alone.

2010

Aabar Investments acquires an interest in one of Italy’s biggest banks, UniCredit, becoming its second largest shareholder. Today, UniCredit operates a network of more than 6,200 branches in 31 countries and employs a workforce in excess of 117,000 employees.

2010

Aabar Investments makes its initial investment in Virgin Galactic, a company focused on developing spacecraft that will provide suborbital flights to space tourists.

2011

IPIC increases its ownership of Cepsa, Spain’s leading energy company, to 100%, in line with its focus on expanding its oil exploration and production footprint.

2011

Through its investment in one of Malaysia’s largest banks, Aabar becomes the second largest shareholder of RHB Bank. The acquisition adds to Aabar’s growing portfolio of financial services investments; today, RHB Bank operates over 330 branches in ten countries.

2011
Aabar Investments makes its initial investment in Arabtec Holding, one of the largest construction contractors in the Middle East. Over time, Aabar has continued to increase its ownership and currently holds a 36.1% stake.
2012

Developed and owned by IPIC, the Abu Dhabi Crude Oil Pipeline (ADCOP) is a 48-inch diameter onshore pipeline that transports 1.5 million barrels per day of crude oil – around half of the UAE’s total production.

2012

US $500 million Al Falah Growth Fund completes its first investment, providing US $50 million of growth capital for a coal-fired power plant in Kazakhstan. Its second investment, completed the same year, is the acquisition of Kazakh poultry business, Alsad; the latter’s performance improves significantly thereafter, and today it generates positive earnings.

2012

OMV’s holding in Petrom, a Romanian business-to-business gas supplier, delivers solid returns; in particular, Petrom increases its capacity through the upgrade of its Petro-Brazi refinery, among the largest refineries in Eastern Europe.

2012

Arabtec Holding is awarded a contract worth AED 10.8 billion for the construction of the Midfield Terminal Building at Abu Dhabi International Airport, expected to open in 2017.

2013

OMV enhances its position in Norway through an investment in Stat Oil, a leading international energy company. The transaction increases OMV’s working interest in exploration and production, as well as opening up key development opportunities.

2013

Arabtec Holding is awarded an AED 2.4 billion contract to construct the world-class art museum, the Louvre Abu Dhabi, expected to open in 2017.

2014

IPIC and Orascom Construction partner with the Egyptian Government to develop a 2,000-3,000 megawatt coal-fire power plant in Egypt.

2014

Cepsa and Cosmo Energy enter into a strategic partnership to identify and develop mutually beneficial opportunities in Abu Dhabi.

2014

QADIC makes its first investment, a commitment to Southeast Asian private equity fund, Navis Asia Partners, which allows QADIC to enter consumer and retail sectors in Singapore, Malaysia, Indonesia and Australia. QADIC’s second investment, made the same year, is a commitment to a US mid-market focused private equity fund, CCMP Capital, based in New York.

2014

A state-of-the-art facility with a capacity of eight million tons of liquid natural gas per annum, Oil Search’s Papua New Guinea LNG facility supplies natural gas by shipping it to fast-growing Asian markets.

2015

H.E. Suhail Mohamed Al Mazrouei, UAE Minister of Energy, is appointed as Managing Director of IPIC.

2015

SUMED successfully launches the first phase of the Ain Sukhna Product Hub project, which is expected to yield additional revenue of US $45 million per year and a corresponding increase in dividends, subsequent to the launch of its second phase.

2015

SUMED successfully launches the first phase of the Ain Sukhna Product Hub project, which is expected to yield additional revenue of US $45 million per year and a corresponding increase in dividends, subsequent to the launch of its second phase.

2015

Cepsa commissions its second phenol facility, to be located in China; with a capacity of 250,000 tons per annum, the new facility makes Cepsa the world’s second largest producer of phenol, a chemical used in the production of engineering plastics that are in turn used in windshields, optical media, household appliances and electronics, among other everyday items.

2015

Nova Chemicals begins using shale gas as feedstock (input) for its petroleum products, a more cost effective solution that results in significantly increased profits.

2016

Aabar Investments signs a senior, unsecured, non-guaranteed five-year facility of €3.6 billion with a lead syndicate of global banks, serving to refinance several of its pre-existing facilities. The new facility is arranged on tighter terms than previously, reflecting the company's improved credit profile and its strategic importance. 

2016

Cepsa receives an Edison Award – a prestigious international innovation accolade – for its pioneering ship loading system.

2016

IPIC and OBIB, the Austrian state holding company, become the two core shareholders of OMV, an integrated, international oil and gas business and Austria’s largest listed industrial company.

2016

The ADCOP staff accommodation building in Fujairah, an IPIC project, receives LEED Gold Certification through the US Green Building Council for New Construction Rating System.

2016

XOJET, a private aviation charter company within IPIC’s portfolio, names Etihad Airways as its first commercial airline partner. The partnership will offer seamless connectivity to private jet and commercial passengers flying XOJET in the US, and on Etihad Airways flights worldwide. With more than 40 owned and operated Challenger and Citation jets, XOJET is the third largest private jet company in the US with a market share of over 30% for US trans-coastal private jet flights.

2016

Borealis fully acquires two German plastics recycling companies, both considered technology leaders in the recycling of mixed post-consumer plastic waste and among Europe's largest producers of post-consumer polyolefin recyclates.

2016

Furthering commercial and governmental ties between the UAE and Algeria, Cepsa and Borealis sign agreements to promote further development of the Algerian industrial sector. Cepsa enters into a global agreement with Algerian company Sonatrach to renew and extend Cepsa’s upstream presence in the North African country, while Borealis and Asmidal sign a Memorandum of Understanding to jointly evaluate opportunities for melamine production.

2016

For the second consecutive year, GEM receives the Maritime Safety and Security Award, recognizing the company’s top-tier safety and security improvement initiatives.

2016

Aabar Properties completes the construction of three residential projects in Abu Dhabi: The Views at Saraya (122 units), as well as The Wave (229 units) and The Kite (126 units) on Al Reem Island.

1998

Tabreed is established to deliver sustainable, energy-efficient and cost-effective cooling services to millions of people across the GCC. Mubadala is a long-term strategic shareholder in Tabreed.

2002

Established by the Government of Abu Dhabi to advance the emirate’s economic diversification, Mubadala goes on to become an active investor across multiple sectors in more than 20 countries.

2003

One of the largest energy investments in the Gulf region, Dolphin Energy is established as a joint venture between Mubadala, Occidental Petroleum and Total to produce and transport gas from Qatar’s North Field to the UAE and Oman. Dolphin now meets approximately 30% of the UAE’s energy requirements.

2005

Injazat Data Systems is founded to provide market-leading IT solutions, including data center hosting and managed services; it goes on to become the only Tier IV data center in the region.

2006

Paris-Sorbonne University Abu Dhabi is established, the first French higher-education institution to open in the Gulf region, as well as the first international campus for one of the world’s oldest and most prestigious universities.

2006

Imperial College London Diabetes Centre opens its first Abu Dhabi facility in partnership with the UK’s Imperial College London, offering the highest level of specialized care associated with diabetes. It goes on to establish two other world-class branches in Al Ain and Abu Dhabi in 2011 and 2016, respectively.

2006

Masdar is established with a mission to develop and invest in a commercially viable new-energy sector in Abu Dhabi and around the world. Abu Dhabi Sustainability Week, a premier international sustainability event, is also established; the event has gathered momentum year on year, and in 2017 saw approximately 38,000 people from 175 countries attend, including thousands of industry experts.

2008

Mubadala and GE establish a global partnership that includes R&D, clean energy, aviation, industry and corporate learning initiatives, as well as utilizes GE’s global learning network.

2008

Masdar City is established as an innovative eco-city focused on sustainable urban development. The city’s nucleus is Masdar Institute, a research university dedicated to cutting-edge solutions in the fields of energy and sustainability.

2008

Mubadala’s oil and gas unit, which later becomes Mubadala Petroleum, acquires Pearl Energy from Aabar, including a portfolio of operated exploration, development and production assets in Southeast Asia.

2008

Mubadala increases its stake in Advanced Micro Devices, a US-based semiconductor company that designs and integrates technologies for intelligent devices, to 19.3%.

2009

Mubadala leads the development of a state-of-the art new campus for UAE University, the first comprehensive national university in the country.

2009

GLOBALFOUNDRIES, a wholly owned Mubadala business, becomes fully functional; today it is the world’s first full-service semiconductor foundry with a truly global manufacturing and technology footprint.

2009

Production commences at Emirates Aluminium’s facility in Al Taweelah, Abu Dhabi, today one of the world’s largest single-site primary aluminium producers.

2010

Six months after opening its doors in Al Ain, Strata Manufacturing delivers its first complete aerostructures ord expanding its product portfolio with the aim of becoming a Tier One supplier of high quality component aircraft products for original equipment manufacturers.

2011

Yahsat launches Y1A, its first satellite, providing satellite communications across 64 countries for both public and private customers. Its second satellite, launched in 2012, extends services to an additional 28 countries. Today, the company’s satellites connect more than 140 countries across the Middle East, North Africa, and Central and Southwest Asia.

2011

A new campus for Zayed University, developed by Mubadala, is inaugurated; the institution today accommodates up to 7,000 male and female students across all campuses.

2012

GLOBALFOUNDRIES begins semiconductor production at FAB 8 in the state of New York, among the largest public-private construction projects and most advanced factories in the US.

2012

Mubadala Petroleum is established as a world-class oil and gas exploration and production company that will contribute to the UAE's energy security and extend the nation's hydrocarbons expertise; today, it has interests in eight countries, including a number of assets in Southeast Asia.

2012

Jointly created by Mubadala and Abu Dhabi Airport Company (ADAC), Nibras Al Ain Aerospace park is launched as a catalyst for the growth of a global aerospace cluster in Abu Dhabi; it is expected to create 10,000 jobs by 2030.

2013

Healthpoint, an integrated practice hospital, opens its doors, offering four centers of clinical excellence and specialized services; today, the hospital treats approximately 1,200 patients each day across 21 clinical services.

2013

Emirates Aluminium and Dubai Aluminium join to create Emirates Global Aluminium, a leading aluminium company with interests across the value chain, from bauxite mining through to alumina refining and primary aluminium smelting. The company’s creation makes the UAE one of the largest primary aluminium producers in the world.

2013

The Rosewood Hotel Abu Dhabi and The Galleria luxury shopping center on Al Maryah Island open their doors, the latest developments to attract residents and visitors to Abu Dhabi’s business and lifestyle destination.

2013

Masdar launches two groundbreaking clean energy projects. The first, Shams 1, is the largest concentrated solar power plant in operation regionally. Located in Abu Dhabi’s Western Region, it produces energy for 20,000 UAE homes. The second, London Array, is the largest offshore wind farm in the world, and generates power for more than half a million homes.

2013

Mubadala and Russian Direct Investment Fund establish a US $2 billion co-investment fund to pursue opportunities in Russia. In subsequent years, Mubadala also establishes similar sovereign investment partnerships in France and China.

2013

Mubadala signs agreements with Airbus and Boeing which will generate over AED 16 billion (US $4.4 billion) of aerostructures manufacturing work at Strata, through to 2030. In a point of local pride, Etihad Airways begins operating aircraft with Strata-manufactured primary parts the same year.

2013

Ruby gas field, located in Indonesia’s Makassar Strait, becomes the first project in Mubadala Petroleum’s international portfolio taken through the full upstream cycle, from initial exploration through to production.

2014

GLOBALFOUNDRIES completes its acquisition of IBM Microelectronics, a transaction that includes IBM’s two wafer fabrication facilities, IP in the form of more than 16,000 patents, and world-class technologists. In the same year, GLOBALFOUNDRIES enters into a strategic partnership with Samsung to deliver the next generation of industry-leading semiconductor chips.

2014

A company comprised of assets from Mubadala, Tawazun and Emirates Advanced Investment Group, Emirates Defense Industries Company (EDIC) is established to bring together the capabilities of the UAE’s defense manufacturing and services into a single integrated platform.

2014

Mubadala and Trafigura acquire a 65% stake in Porto Sudeste do Brasil, a private port terminal with the capacity to handle 50 million tons of iron ore annually.

2014

A successful exploration and drilling campaign in Malaysia Block SK320 results in three new multi-TCF (trillion cubic feet of gas) discoveries.

2015

A multispecialty hospital located on Al Maryah Island, Cleveland Clinic Abu Dhabi provides direct access to the world's best healthcare providers. It is specifically designed to address a range of complex and critical care requirements unique to the Abu Dhabi population.

2015

Mubadala and Trafigura create a joint venture to invest in base metals, including copper and zinc. As part of the agreement, Mubadala acquires a 50% stake in Trafigura’s flagship Spanish mining operation, MATSA.

2015

Mubadala establishes Cognit, a joint venture with IBM Watson, to provide IBM’s cognitive computing system, Watson, to organizations in the MENA region.

2015

Mubadala takes ownership of Minesa, a Colombian company focused on developing a world-class gold mining operation.

2015

The Tafila Wind Farm in Jordan, the region’s first utility-scale wind power project, is inaugurated.

2015

Al Taweelah Alumina is incorporated and the Emirates Global Aluminium (EGA) board gives notice to proceed with the Al Taweelah Refinery Project, which will give EGA greater control over its supply chain and enhance the UAE’s competitive position in the aluminium sector.

2015

Production commences at the Nong Yao oil field operated by Mubadala Petroleum in the Gulf of Thailand; the additional production makes Mubadala Petroleum the second largest crude oil producer in the country.

2015

Abu Dhabi Global Market, the capital’s international financial center, officially opens for business on Al Maryah Island.

2016

Al Maryah Island officially celebrates the opening of the five-star luxury hotel, Four Seasons Hotel Abu Dhabi, situated in a prime waterfront location. At the end of the year, the hotel provides a new focal point for celebration when Al Maryah Island welcomes 14,500 people to the biggest New Year’s celebration in the capital.

2016

A Masdar-led consortium wins the bid to develop Phase III of the Mohammed bin Rashid Al Maktoum Solar Park – the largest single-site strategic solar energy project of its kind in the world.

2016

Solar Impulse 2 lands in Abu Dhabi, having circumnavigated the world without a drop of fuel – a distance of more than 40,000 kilometers. A bold and innovative undertaking supported by Masdar and Abu Dhabi, Solar Impulse promotes the use and benefits of clean technologies.

2016

EGA launches construction of its 12 mtpa bauxite mine in Guinea.

2016

It is announced that Mubadala will hold a US $2.2 billion stake in BP on behalf of the Abu Dhabi Government.

2016

Strata signs a number of significant agreements at the Farnborough Airshow in the UK, including two contracts with Airbus worth $1 billion US to manufacture additional composite parts for both the Airbus A350 and A320. The company also signs a multi-year contract with Boeing to manufacture vertical fins for the 787 Dreamliner family.

2017

Yahsat is currently manufacturing its third satellite, Al Yah 3, planned for launch in 2017. Al Yah 3 will extend its commercial Ka-band coverage across an additional 19 markets, including several in Africa, where it will reach more than 60% of the population. Al Yah 3 will also support Yahsat’s first entry into Brazil, where it will cover more than 95% of the population.