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الراي
Petroleum firm's $16B Kuwait investment
The Kuwait Petroleum Corporation announced that Kuwait Oil Company signed a lease and sublease agreement for the crude oil pipeline network valued at $16 billion, making it the largest foreign direct investment in Kuwait’s history. A partnership company will be established with a global alliance led by investment funds from Blackstone, Brookfield, and KKR. Kuwait Oil Company will retain a majority stake of 51%, with exclusive operational and maintenance rights for the approximately 320-kilometer pipeline network for a duration of 20.5 years. The project aims to increase oil production to 4 million barrels per day by 2035 and supports diversification of funding sources, with expectations of generating cash returns amounting to $7.85 billion. This reflects the attractiveness of Kuwait’s investment environment and encourages the participation of global investors in the country’s economy.
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