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KOC was established in 1934 by the Anglo-Persian Oil Company, which is known today as BP (British Petroleum), and Gulf Oil Corporation, now known as Chevron.
Since its inception, KOC’s activities have included exploration operations, onshore and offshore surveys, drilling of test wells and the development of producing wells in addition to crude and natural gas exploration.
Oil was found in Kuwait in 1938 at Burgan Field, which is considered the second largest oil field in the world. In 1946, Kuwait exported its first crude oil shipment.
KOC works under the umbrella of KPC, and its vision focuses on achieving a leading worldwide position in oil and gas exploration and production, as well as growing oil reserves to ensure the sustainability of production.
The Company aims to be an employer of choice and make the best use of modern technologies. It is also working very hard to promote compliance with HSE standards. KOC also seeks excellence in performance throughout all areas of its operation, and the Company is committed to supporting the local economy and serving the community.
Through the use of modern technology and the development of the skills of its staff, KOC aims to increase production in accordance with its strategic objectives. This includes the production of 3.65 million barrels of oil per day by 2020 and maintaining that figure until 2030. In terms of gas production, the Company aims to produce one billion cubic feet of gas by 2020/2021.
The Company continues to work toward achieving its objectives and implementing its projects while strengthening its human and technical capabilities in order to meet the challenges faced by the global oil industry, and to fulfill its role as a major global supplier of energy.