Kuwait Signs $16 Billion Pipeline Deal with Blackstone, Brookfield, and KKR

Kuwait Oil Company (KOC) has signed a US$16.0 billion infrastructure partnership with a consortium of Blackstone, Brookfield, and KKR to lease its crude oil pipeline network.

The joint venture will operate for 20.5 years and is the largest foreign direct investment in Kuwait's history.

Kuwait Oil Company retains a 51% stake in the partnership, while the consortium holds a 49% stake, with each investor holding an equal share of that interest.

The deal is expected to generate US$7.85 billion in proceeds for KOC and support its capital expenditure plans, including reaching 4 million barrels per day of crude oil production capacity by 2035.