Statement from the Competition Council regarding the economic concentration project for the acquisition by “Saudi Aramco” and “EIG Management Company, LLC” of the direct joint control of “MidOcean Holding II L.P.” and indirect of “MidOcean Energy LLC.”

Statement from the Competition Council regarding the economic concentration project for the acquisition by “Saudi Aramco” and “EIG Management Company, LLC” of the direct joint control of “MidOcean Holding II L.P.” and indirect of “MidOcean Energy LLC.”
In accordance with Article 13 of Law 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation as amended and supplemented, the Competition Council makes available to the public the below “operation summary” containing information provided by the parties.
This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.
The publication of this statement does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.
Names of the companies involved:
– Indirect acquirer No. 1: Saudi Aramco.
– Direct acquirer No. 1: Aramco InvestCo.
– Direct acquirer No. 2: EIG Management Company, LLC
– Direct target: MidOcean Holding II L.P.
– Indirect target: MidOcean Energy LLC.
Nature of the operation:
– Acquisition of joint control.
Economic sector concerned:
– The oil and gas industries sector.
Deadline for interested third parties to submit their observations:
– 10 days from the date of publication of this statement, i.e., December 4, 2023.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council received a notification regarding a change of control of MidOcean Holdings II L.P. (MidOcean Holdings II) and indirectly of MidOcean Energy, LLC. Following the Envisaged Operation, Saudi Aramco and EIG Management Company (EIG) will jointly control MidOcean Holdings II and indirectly MidOcean Energy, LLC.
MidOcean Holdings II is a Scottish limited partnership headquartered at 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ, United Kingdom, registered with the UK Company House under number SL036455.
MidOcean Energy, LLC is a limited liability company established in Delaware, currently indirectly and wholly owned by EIG through MidOcean Holdings, a Scottish limited partnership.
Saudi Aramco is a joint-stock company established by Royal Decree No. M/8 of the Kingdom of Saudi Arabia. Saudi Aramco is the ultimate parent company of Saudi Aramco Group, whose main activity is the exploration, drilling, and extraction of hydrocarbons as well as the processing, manufacturing, refining, and marketing of these substances.
EIG is an investment management company based in Delaware, United States. EIG is the direct or indirect manager or owner of entities that manage or advise funds, accounts, vehicles, or pooled companies, including MidOcean Holdings II. EIG’s clients include many leading pension funds, insurance companies, endowments, foundations, and sovereign funds in the United States, Asia, and Europe. EIG is headquartered in Washington, D.C., with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong, and Seoul.
Done in Rabat on November 23, 2023.