The Abu Dhabi National Oil Company (ADNOC) has hired Bank of America Merrill Lynch and Mizuho Financial Group to manage the lease of its natural gas pipeline assets, which are worth an estimated $12-15 billion, Reuters reported.

“As we have demonstrated over the last two years, we are actively exploring a number of potential options to optimize and maximize value from across our portfolio of assets,” an ADNOC spokesman said.

The UAE-based company recently finalized an agreement for a pipeline infrastructure investment with BlackRock and KKR for a total of $4 billion, with the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF) agreeing to invest $300 million. Under the agreement, a new entity is formed, named ADNOC Oil Pipelines.

ADNOC dominates a 57% stake in ADNOC Oil Pipelines, while BlackRock and KKR own a combined 40% stake, and ADRPBF owns 3%.

ADNOC Oil Pipelines owns 18 pipelines with a total aggregate capacity of approximately 13,000 million barrels per day (b/d).