Kenya Pipeline Company PLC (KPC) said on Wednesday its subsidiary had signed a 25-year crude oil storage and handling contract with Gulf Energy E&P B.V., part of a package of agreements the state-linked firm expects to diversify its revenue.

The Nairobi Securities Exchange-listed company disclosed the contract, along with a revised operations agreement with the Kenya Ports Authority (KPA), in a public announcement dated Aug. 26, 2026, citing its obligations under Kenyan capital markets disclosure rules.

Kenya Petroleum Refineries Limited (KPRL), a wholly owned subsidiary of Kenya Pipeline Company, will provide facilities and services for the receipt, storage, handling and delivery of crude oil for export through the Kipevu Oil Terminal II, under the contract with Gulf Energy E&P B.V. (GEBV), the company said.

Kenya Pipeline Company estimated the contract could generate gross revenue of about 93.68 billion Kenyan shillings (roughly $725 million at current exchange rates) over its 25-year term, based on internal projections of throughput and tariff assumptions.

“This estimate is however based on projected throughput and tariff assumptions and does not constitute a guaranteed revenue commitment,” the company said in the announcement.

The agreement is expected to draw on existing and upgraded infrastructure at Kenya Petroleum Refineries and to widen Kenya Pipeline Company’s role in petroleum logistics, according to the disclosure. Revenue would come through fixed service fees and the recovery of variable costs, the company said.

Separately, Kenya Pipeline Company and the Kenya Ports Authority have revised a service level agreement covering the operation and maintenance of Kipevu Oil Terminal II, which is owned by the port’s authority.

The terminal serves as the main marine interface through which Kenya Pipeline Company receives petroleum products before transferring them into its pipeline and storage network, the company said.

The revised agreement replaces an earlier arrangement between the two state entities and is intended to clarify roles, responsibilities and service standards, as well as strengthen accountability, performance monitoring and business continuity at the terminal, according to the disclosure.

Kenya Pipeline Company said the agreement was not expected to carry significant direct monetary value on its own but described it as operationally critical to the reliable receipt and onward transport of petroleum products serving Kenya and regional markets.

Taken together, the two agreements reinforce Kenya Pipeline Company’s position in the petroleum supply chain serving Kenya and neighbouring countries, support the optimisation of its refinery subsidiary’s assets, and provide a platform for what the company called diversified and sustainable revenue generation.

The company said it would monitor implementation of both agreements and make further disclosures as required under Kenyan law and Nairobi Securities Exchange listing rules.

The announcement was signed by Flora Okoth, General Manager for Legal Services and Company Secretary at Kenya Pipeline Company, by order of the company’s board of directors.

Kenya Pipeline Company said the announcement was issued with the approval of the Capital Markets Authority, in line with the Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023, and Nairobi Securities Exchange listing rules.

The company cautioned that forward-looking statements in the announcement, including the revenue projections tied to the Gulf Energy contract, were based on current assumptions and were subject to operational, commercial and regulatory risks.

The Capital Markets Authority said it takes no responsibility for the accuracy of the statements in the disclosure.

Kenya Pipeline Company is a state-linked energy logistics firm listed on the Nairobi Securities Exchange, operating the country’s main network for transporting and storing petroleum products. Its subsidiary, Kenya Petroleum Refineries Limited, is based at the Kipevu area of Mombasa, Kenya’s main port city and a hub for regional fuel imports and exports.

Kipevu Oil Terminal II is a marine jetty facility owned by the Kenya Ports Authority that handles the receipt and export of crude oil and refined petroleum products for onward distribution through Kenya Pipeline Company’s network to markets in Kenya, Uganda, Rwanda, South Sudan and other parts of East Africa.

Gulf Energy E&P B.V. is described in the disclosure as a company involved in oil exploration and production activities. Reuters could not immediately verify further details of Gulf Energy’s operations.

The disclosures come as Kenya Pipeline Company seeks to expand commercial use of its refinery infrastructure and terminal access agreements to generate long-term revenue streams beyond its core pipeline transport business.