Kuwait Oil signs US$ 16 billion pipeline infrastructure deal with Blackstone, Brookfield, KKR consortium
KKR•Kuwait Oil signs pipeline infrastructure partnership
- Kuwait Oil Company signed a USD 16 billion pipeline infrastructure partnership with a consortium led by Blackstone, Brookfield, KKR.
- New Kuwait-incorporated JV will lease usage rights to 13 crude oil pipelines spanning about 320 kilometers.
- KOC will hold 51% of the JV; the consortium will hold 49% split equally among the three investors.
- JV will grant KOC exclusive use, operations, maintenance rights for 20.5 years in return for a volume-based tariff.
- Transaction expected to deliver USD 7.85 billion in upfront proceeds to KOC at closing.
