KOC agrees $16bn pipeline deal with Blackstone, Brookfield, KKR
Kuwait Oil Company (KOC), a fully owned subsidiary of Kuwait Petroleum Corporation (KPC), has signed a $16 billion lease-and-lease-back agreement with a consortium led by Blackstone, Brookfield, and KKR for its entire domestic and export pipeline network. The deal, named Project Peregrine, establishes a new Kuwaiti-incorporated joint venture in which KOC holds 51% and the consortium holds 49% equally. KOC will lease usage rights for all 13 pipelines spanning 320 km and lease them back for 20.5 years, retaining exclusive use and operational control. The transaction is the largest foreign direct investment in Kuwait's history and is expected to generate $7.85 billion in upfront proceeds for KOC, supporting KPC's capital expenditure plans including a target of 4 million barrels per day crude production by 2035. The agreement is subject to regulatory approvals and governed by Kuwaiti law.
Editorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page itself is projected from evidence records.
- Current automated evidence projection