Kuwait Projects Company (KIPCO) has recently entered into a sale and purchase agreement with its subsidiary, National Petroleum Services Company (NAPESCO). NAPESCO, a subsidiary of KIPCO Group with a 60.53% ownership stake, has agreed to acquire KIPCO's entire share in the issued and paid-up capital of United Petroleum Projects (UPC). The total value of this transaction amounts to KD 15,029,920, as mentioned in a statement to Boursa. 

The statement further clarifies that the sale and purchase process occurs between the parent company and the subsidiary, resulting in no material impact on the consolidated financial statements of KIPCO. This means that any impact resulting from the transaction will be excluded upon collection, ensuring limited adjustments within KIPCO's financial reporting.