• 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
• Underscores – amidst ongoing regional geopolitical challenges – international trust in KPC’s ability to deliver on its 2040 Strategy to reach 4 million barrels of crude oil production capacity per day by 2035
• Supports Kuwait's economic diversification goals in a partnership with leading international investors, expected to generate US$ 7.85 billion of proceeds to support broader capital expenditure plans
• Preserves the State of Kuwait’s full flexibility over its production and refining volumes

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