Kuwait Seals Record-Breaking $16 Billion Pipeline Deal with Global Giants

Kuwait's state-owned energy producer Kuwait Petroleum Corporation (KPC) has secured $7.85 billion in upfront proceeds from a record $16 billion lease-and-leaseback agreement with Blackstone, KKR, and Brookfield.

The deal, known as Project Peregrine, covers KPC's crude oil pipeline network and establishes a joint venture operating under a 20.5-year lease-and-leaseback structure.

KPC Deputy Chairman and CEO Shaikh Nawaf Saud Al-Sabah described the agreement as 'the largest foreign direct investment transaction in Kuwait's history.'