Kuwait $16B Pipeline Deal with Blackstone, Brookfield, KKR
Analysis based on 28 articles · First reported Mar 09, 2018 · Last updated Jul 25, 2026
The deal unlocks significant capital for Kuwait's oil sector expansion, signaling strong investor confidence in Gulf energy infrastructure despite regional tensions. It may encourage further infrastructure monetization by other Gulf oil producers, potentially boosting investment flows into the region.
Bharat Petroleum (KPC) and its subsidiary Kuwait Petroleum Corporation — Kuwait Oil Company (KOC) signed a $16 billion lease-and-leaseback agreement covering Kuwait's entire crude oil pipeline network with a consortium led by Blackstone, Brookfield, and KKR. The deal, named Project Peregrine, is the largest foreign direct investment in Kuwait's history. Under the structure, a joint venture will be formed with KOC holding 51% and the consortium 49% on equal terms, for a 20.5-year period. KOC retains full ownership and operational control. The transaction is expected to generate $7.85 billion in upfront proceeds, supporting KPC's capital expenditure plans, including a target of 4 million barrels per day of crude oil production capacity by 2035. The deal follows similar pipeline monetizations by Saudi Aramco, ADNOC, and BAPCO Energies. Financial advisors included Centerview Partners, HSBC, and JPMorgan. The agreement was signed amid regional tensions, including Iranian attacks on U.S. military depots in Kuwait.
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