Kuwait Lands Record-Breaking $16 Billion Pipeline Deal with Global Investors

Kuwait Petroleum Corporation (KPC) has signed a massive $16 billion deal to lease and leaseback its crude oil pipeline network. The joint venture, dubbed Project Peregrine, involves KPC's unit Kuwait Oil Company (KOC) partnering with global investors Blackstone, Brookfield, and KKR.

The 20.5-year agreement includes a volume-based tariff, and the investors will collectively hold a 49% stake in the joint venture. KOC will retain a 51% stake and maintain full ownership and operational control of the network, which spans around 320 kilometers.

The deal is expected to generate $7.85 billion in upfront proceeds at closing, supporting KPC's capital expenditure plans. The transaction marks the largest foreign direct investment in Kuwait's history and sends a signal that the country remains an attractive destination for global capital.