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Kuwait secures record $16B FDI deal
Kuwait Petroleum Corporation signed a deal valued at $16 billion, the largest in the country's history, with a consortium including Blackstone, Brookfield, and KKR. The agreement aims to lease and re-lease the nation's crude oil pipeline network for 20 and a half years, with the consortium holding a 49% stake and Kuwait Petroleum Corporation maintaining 51%. The deal ensures the country retains national control over the 320-kilometer pipeline network and its operation. The company anticipates that this transaction will generate revenues of approximately $7.85 billion and affirms that it reflects Kuwait’s attractiveness to foreign investment despite regional challenges.
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