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Sunday, 26 July 2026

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  • KOC Takes USD 16 Billion Pipeline Deal With Blackstone, Brookfield, KKR.
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Oil & Gas

KOC Takes USD 16 Billion Pipeline Deal With Blackstone, Brookfield, KKR

Blackstone, Brookfield and KKR have formed a joint venture with Kuwait Oil Company (KOC) built around the state producer's domestic and export crude pipelines, a partnership World Oil valued at USD 16 billion.

Proceeds from the transaction are put at USD 7.85 billion, money directed at upstream expansion and at Kuwait's target of 4 MMbpd of crude production capacity by 2035, according to World Oil.

Ownership splits 51% to KOC against 49% held jointly by the three investors, structured as a lease-and-leaseback running 20.5 years.

What the venture acquires is usage rights, not the assets themselves: 13 pipelines covering some 320 km. Ownership stays with KOC, as does operational control and the maintenance obligation.

No prior inbound deal in Kuwait has been larger, World Oil reported, describing the investment as the country's biggest foreign direct investment on record.

Shaikh Nawaf Saud Al-Sabah, deputy chairman and CEO of Kuwait Petroleum Corporation, called the arrangement, named Project Peregrine, "a defining milestone for our country's economic development".

Source: worldoil.com (opens in a new tab)1 sourcePermalink