Kuwait Lands $16 Billion Deal with Global Investors

Kuwait has made significant strides in attracting global capital and investment to diversify its economy, with a major milestone being the $16 billion Shaheen Project agreement signed by Kuwait Petroleum Corporation (KPC) with a consortium of global infrastructure investors.

The project involves a sale-and-leaseback model for crude oil pipelines, generating an estimated $7.85 billion in cash proceeds and marking Kuwait's largest foreign direct investment to date.

Oil expert Kamel Al-Harami said the project represents a major shift in Kuwait's oil sector philosophy, opening doors to global banking alliances to finance one of the state's most important assets, while also providing financial revenues amid budget deficits and liquidity needs.