Kuwait Oil Company Signs US$ 16.0 Billion Infrastructure Partnership Involving Its Crude Oil Pipeline Network With a Consortium Comprising Blackstone, Brookfield and KKR

Kuwait Oil Company Signs US$ 16.0 Billion Infrastructure Partnership Involving Its Crude Oil Pipeline Network With a Consortium Comprising Blackstone, Brookfield and KKR

Kuwait Oil Company (“KOC”) is establishing a new joint venture (“JV”) with three leading global investors in a lease and leaseback structure for a 20.5 year period that includes a volume-based tariff

Following a competitive selection process, Blackstone, Brookfield and KKR will collectively hold a 49% stake in the JV, with each investor holding an equal one-third share of that interest on equal terms; KOC will retain a 51% stake and full ownership and operational control of the network

Kuwait's largest energy infrastructure partnership to date, and the largest foreign direct investment ever in Kuwait

Marks the first time leading global institutional investors have deployed long-term capital into Kuwait’s midstream infrastructure