Kuwait Petroleum Corporation has signed a 16 billion dollar agreement with Blackstone, Brookfield, and KKR for the transfer of the national oil pipeline network.

Kuwait Petroleum Corporation (KPC) has signed a historic agreement worth 16 billion dollars with a consortium made up of Blackstone, Brookfield Asset Management, and KKR, through which the national pipeline network for oil transportation will be transferred into a lease-and-leaseback structure. This transaction, called Project Peregrine, represents the largest foreign direct investment in the history of Kuwait.

The agreement, which will last for 20.5 years, stipulates that Kuwait Oil Company (KOC) will establish a joint venture with international investors, who will hold 49% of the shares. The CEO of KPC, Sheikh Nawaf Saud Al-Sabah, emphasized Kuwait's attractiveness for international capital, despite regional tensions. The transaction will generate 7.85 billion dollars in liquidity, intended to finance the company's investment programs. This move is part of a regional trend to attract capital by leveraging energy infrastructure.