Kuwait Partners with Global Investors on US$16 Billion Pipeline Deal

Kuwait Oil Company (KOC) has signed a US$16.0 billion lease-and-lease-back agreement involving its entire domestic and export pipeline network with a consortium of international infrastructure and institutional investors led by Blackstone, Brookfield, and KKR.

The 20.5-year partnership will see the three investors collectively hold a 49% stake in a new joint venture (JV) established between KOC and the consortium, while KOC retains a 51% majority stake and full ownership and operational control of the pipeline network.

The deal marks the largest foreign direct investment in Kuwait's history and underscores international trust in KPC's ability to deliver on its 2040 Strategy to reach 4 million barrels of crude oil production capacity per day by 2035.