KPC is exploring a $7 billion stake sale in its crude oil pipelines, targeting investors such as BlackRock and Brookfield Asset Management. The move could provide the national oil company with upfront cash while offering investors a long‑term revenue stream.

The proposal follows similar moves by Gulf peers Saudi Aramco, Abu Dhabi National Oil Company and Bahrain’s Bapco Energies, which have monetised pipeline assets to fund expansion.

The transaction is structured with about $1.5 billion in equity and the remainder financed through debt. The concession is expected to span 25 years. Crude oil prices hovering around $71 per barrel are weighing on projected volumes and returns. KPC plans to spend $410 billion through 2040 to boost production to 4 million barrels per day. Interested parties include EIG Partners, KKR, China Silk Road Fund, China Merchants Capital, I Squared Capital, and Macquarie Infrastructure Partners.

Al‑Sabah said that the company was studying leasing pipelines and that the pipelines do not generate direct financial returns, adding that if there is an opportunity to secure additional financing through these assets, then welcome. He told reporters in September that “We are studying the possibility of leasing and re‑leasing (oil) pipelines in the country.” He added that “The pipelines are assets owned by KPC and do not generate direct financial returns. If there is an opportunity to secure additional financing through these assets… then welcome.”

If the deal proceeds, KPC could unlock significant cash flow, enabling it to fund its $410 billion investment plan and support future production growth, while providing investors with a long‑term revenue stream from tariff payments.