Petroleum Firm Reports Major FDI in Kuwait
The Kuwait Petroleum Corporation has announced that Kuwait Petroleum Company has signed a leasing and re-lease agreement for the oil export pipeline network, valued at $16 billion USD, with a consortium of global investors led by Blackstone, Brookfield, and KKR. The agreement facilitates the establishment of a joint venture, in which Kuwait Petroleum Company owns 51%, responsible for operating and maintaining a pipeline network approximately 320 kilometers long. The joint venture enjoys exclusive usage rights for 20.5 years, without affecting production or refining decisions. This deal is the largest foreign direct investment in Kuwait's history, generating direct cash returns of $7.85 billion USD. It supports the plan to increase oil production to 4 million barrels per day by 2035 and reflects Kuwait’s attractive investment environment despite regional challenges.
Notice: This Is an AI-Generated Summary
Comments (0)