Blackstone, KKR, and Brookfield acquire 49% stake in Kuwait's national oil pipeline network joint venture

Type: Acquisition · Technology: Oil Gas · Country: Kuwait · Value: $16B · Announced: 2026-07-27

Blackstone, KKR, and Brookfield have agreed to acquire a 49% stake in a joint venture linked to Kuwait’s national oil pipeline network for approximately $16 billion. This transaction represents the largest foreign investment in Kuwait’s history, providing the Gulf state with almost $8 billion in upfront proceeds. The joint venture will lease the country’s 320km pipeline network under a long-term arrangement, with Kuwait Petroleum Corporation (KPC) retaining the right to use the infrastructure. Kuwait plans to utilize the proceeds to support investments in its energy infrastructure and increase crude oil production capacity to 4 million barrels per day by 2035. The deal follows similar transactions in Saudi Arabia and Abu Dhabi, where Gulf energy producers have sold minority stakes in strategic infrastructure assets to international investors.

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