• Sheikh Nawaf Al-Saud, the CEO of Kuwait Petroleum Company, mentioned that the corporate is on the lookout for the most affordable sources of financing, and if that’s via a pipeline monetization deal open to native and overseas buyers, as ADNOC and Aramco not too long ago did, I’ll embrace it.”
Kuwait Petroleum Company (KPC) is learning a proposal to lease a part of its pipeline community to assist finance a $65 billion funding plan spanning manufacturing, refining, and petrochemicals, Al Anba newspaper reported
Based on sources, the company seeks to lift between $5 billion and $7 billion via leasing 13 pipelines for a 25-year interval.
They added that talks are nonetheless underway and no ultimate resolution has been reached, stressing that the plan stays topic to authorities approval.
The company has enlisted Centerview Companions LLC to advise on the deal, which can resemble agreements carried out by neighboring Gulf states. This transfer falls inside the framework of an funding program launched by KPC in April 2024, which incorporates spending about $33 billion to lift oil manufacturing capability to 4 million barrels per day by 2035.
KPC CEO Sheikh Nawaf Al-Saud beforehand instructed Bloomberg that the company is contemplating a number of funding sources for future initiatives, together with potential pipeline offers.
He mentioned, “I’m on the lookout for the most affordable sources of financing, and if that’s via a pipeline monetization deal open to native and overseas buyers, as Abu Dhabi Nationwide Oil Firm (ADNOC) and Saudi Arabia’s oil big Aramco not too long ago did, I’ll embrace it.”