Among those showing interest are BlackRock, Brookfield Asset Management, EIG Partners and KKR. Chinese state-backed investors, including China Silk Road Fund and China Merchants Capital, have also expressed interest, sources said, News.Az reports, citing Reuters.
The transaction is expected to raise about $1.5 billion in equity, with the remainder financed through debt. KPC is reportedly working with banks, including HSBC, to underwrite the debt portion. The deal could formally launch as soon as the end of February.
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KPC’s deputy chairman and chief executive, Sheikh Nawaf Saud Al-Sabah, has previously said the company is studying the possibility of leasing and re-leasing oil pipelines to unlock financing from assets that do not generate direct returns. The proposed concession is expected to span 25 years.
The move mirrors similar pipeline infrastructure deals by regional energy giants such as Saudi Aramco and Abu Dhabi National Oil Company, which have raised upfront cash in exchange for long-term tariff payments.
KPC announced in late 2023 that it plans to invest $410 billion through 2040 to increase production capacity to 4 million barrels per day.
