Investing.com -- Kuwait Petroleum Corporation has signed a $16 billion lease and leaseback agreement covering its crude oil pipeline network with Blackstone, KKR and Brookfield, Reuters reported. Under the agreement, KPC subsidiary Kuwait Oil Company will establish a joint venture with the three U.S. investment groups for 20.5 years. Blackstone, KKR and Brookfield will collectively own a 49% interest in the venture, leaving Kuwait Oil Company with a controlling 51% stake. Kuwait Oil Company will retain full ownership and operational control of the infrastructure, which comprises 13 pipelines extending about 320 kilometres, or 199 miles. Related articlesKuwait signs $16 billion oil pipeline deal with Blackstone, KKR and BrookfieldGood cop, bad cop?