State-owned Kuwait Petroleum Corporation (KPC) plans to invite foreign companies to help develop recent offshore discoveries, as Kuwait looks to accelerate production and apply advanced technologies offshore, according to a Reuters report.
This was revealed by Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah as he spoke at the Kuwait Oil & Gas Show on Tuesday,
The move reflects a growing recognition in Kuwait that technical complexity, timelines and capital intensity in offshore projects may require partnerships beyond national operators.
Monetising pipelines without losing control
In another notable signal, the prime minister confirmed that KPC is in talks with international financial institutions over a lease-and-leaseback structure for Kuwait’s domestic crude oil pipeline network. The arrangement would allow Kuwait to raise capital while retaining operational control of strategic assets.
This follows earlier reporting that Kuwait is considering selling a minority stake in its pipeline infrastructure, a transaction that could raise up to $7 billion, aligning Kuwait with similar asset-monetisation strategies used by Saudi Arabia and the UAE, the report said.
