Kuwait signs $16B energy deal
Kuwait has made its largest foreign investment in the country's history, totaling $16 billion, through the "Shahin" project for leasing oil pipelines, with the aim of increasing production to 4 million barrels per day by 2035. The deal includes the creation of a new company in which Kuwait Petroleum owns 51%, and it will lease 13 pipelines spanning 320 kilometers, with exclusive usage rights for 20.5 years in exchange for cash returns amounting to $7.85 billion. Kuwait will retain full ownership of the resources and operational control. This move underscores the attractiveness of investments in Kuwait and the resilience of its economy despite regional challenges.
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