Oil, Gas and Infrastructure Privatization
The government of Kuwait has been looking to privatise many of entities in a bid to increase the contribution to the GDP and account for the fiscal deficit. The privatisation bill was first passed by the Parliament in 2010 and included a list of specific downstream energy assets.
After is receiving some setbacks, the privatisation plan is going forwards in full swing. The government is offering private participation in the oil and gas sector and also looks to privatize some infrastructural projects.
The move to privatize the sector comes from the slumping price of oil in the international market. Kuwait has taken a broad economic plan by allowing selling of stakes of state-owned companies from the financial year 2016 – 2017 and looks to reduce the budget deficit of US$38.6 billion.
Deputy Premier and Acting Oil Minister of Kuwait, Anas Al Saleh, has welcomed public participation for their economic and financial report and plans to privatize almost 60% of the state-owned entities.
The development has resulted in many private companies showing interest in having a stake in the government offerings. But the privatisation of oil and infrastructure is a politically sensitive subject as it is the main resource that provides the maximum contribution to the GDP.
Companies looking to profit from the privatisation decision need to be careful and adopt all measures so that it can successfully sail past difficulties. Al Naqeeb and Partners have been helping companies which have shown a great interest in Kuwait's privatisation bid.
Excellent Privatisation Opportunities in Oil, Gas and Infrastructure in Kuwait
Expert Advice and Professional Assistance for Oil, Gas and Infrastructure Privatisation
Our team of proficient lawyers excels at helping companies that are looking to exploit the privatization development. We stay right beside the client from the beginning and help them understand the implications of an offering which leads to the successful drafting of the tender.
Our team is well aware of the bid offers put forward by the government and can provide solid pre-qualification consultation on projects of interest.
We assist you with each and every step and formality that crops up in the process of finalizing your bid. Our lawyers will guide you from the beginning till the completion of the project so that you can concentrate only on crucial business objectives and operations.
Years of Experience with Successful Outcomes
Lawyer Sultan Al-Shemali has gathered vast experience working for over 30 years with both domestic and international businesses. We have been an essential part of many privatisation projects which include a US$2.4 billion joint-venture involving commercial lenders and Export and Import Bank in the Kuwait Shuaiba Petrochemical Project (“Equate”).
Our firm has also worked with a USA and French Consortium that constructed a wastewater facility taking the place of the existing wastewater treatment facility in Kuwait.
Our adept lawyers have been instrumental in turning many deals into successful projects and assisted private companies to get a stake in government projects in Kuwait and neighboring countries.
