Kuwait Oil Company
 | |
| Industry | oil and gas industry |
|---|---|
| Founded | 1934 |
| Headquarters | , |
Key people | Emad Sultan (CEO), Issam Mallah (General Manager) |
| Products | petroleum natural gas |
| Owner | Government of Kuwait |
| Parent | Kuwait Petroleum Corporation |
| Website | www |
The Kuwait Oil Company (KOC) is an oil company headquartered in Ahmadi, Kuwait. It is a subsidiary of the Kuwait Petroleum Corporation, a Government-owned holding company. Kuwait was world's 10th largest petroleum and other liquids producer in 2013, and fifth-largest exporter in terms of volume of crude oil and condensates.[1] The managing director of the company is Emad Sultan.
History
The Kuwait Oil Company was founded in 1934 by Anglo-Persian Oil Company and Gulf Oil as an equally owned partnership.[2] The oil concession rights were awarded to the company on 23 December 1934 and the company started drilling operations in 1936.[3][4] First oil was discovered in 1938 in Burgan field, followed by discoveries in Magwa in 1951, Ahmadi in 1952, Raudhatain in 1955, Sabriya in 1957, and Minagish in 1959.[4]
The initial development of the oil industry coincided with the end of the British Raj in India and many British and Indian administrators and engineers transferred from there to Kuwait. The oil town of Ahmadi was set up to house these workers, and was segregated on racial lines. Such segregation continued in the amenities and recreational facilities offered to company employees. Race to a large extent dictated the status of employees and conditions of employment within the company.[5]
In the early part of the 20th century,[6] when the Royal Navy converted their warships to oil burners instead of coal, the British Government depended on a secure supply of Middle Eastern oil. Figures such as Dame Violet Dickson who lived among the Kuwaitis for 40 years were influential in fostering an excellent relationship with the Kuwaitis.[7]
The Kuwait Oil Company uses the Kuwait Integrated Digital Field project (KwIDF) for digital oilfield operations.[8] For the meanwhile, KwIDF is one of the most strategic projects the company participated in to support the oil and gas production in Kuwait.
BP and Gulf were able to obtain the Kuwaiti oil at very favourable terms for sale via their downstream networks in Europe and adjoining areas. During this time, Gulf would claim that it had a "special relationship" with Kuwait. However, all this came to an end in 1975 when the KOC reverted to Kuwaiti ownership.[4] The umbrella organization Kuwait Petroleum Corporation was founded by the government in 1980.[9]
Former chairmen
Emad Sultan 2019–present
Jamal Jafar 2016–2019
Hashim Hashim 2013–2016
Sami Al-Rushaid 2007–2013
Farouk Al-Zanki 2004–2007
Ahmad Al-Arbeed 2001–2004
Abdul Latif Al- Tourah 1998–2001
Khalid Al- Fulaij 1992–1998
Issam Hasan Al- Mallah 1984–1992
See also
References
- ^ "U.S Energy Information Agency - Kuwait" (PDF). 24 October 2014. Retrieved 4 January 2016.
- ^ Mary Ann Tétreault (1 January 1995). The Kuwait Petroleum Corporation and the Economics of the New World Order. Greenwood Publishing Group. p. 7. ISBN 978-0-89930-510-3. Retrieved 3 February 2014.
- ^ Lester H. Brune (2003). Burns, Richard Dean (ed.). Chronological History of U.S. Foreign Relations: 1932–1988 (2 ed.). Routledge. p. 499. ISBN 978-0-415-93916-4.
- ^ a b c Alsharhan, A. S.; Nairn, A. E. M. (1997). Sedimentary basins and petroleum geology of the Middle East (2 ed.). Elsevier. p. 471. ISBN 978-0-444-82465-3.
- ^ Reisz, Todd. "The Orderly Pleasures (and Displeasures) of Oil Urbanism". Portal 9. Retrieved 7 December 2013.
- ^ Dahl, Erik. "From Coal to Oil" (PDF). National Defense University (US). Retrieved 22 September 2019.
- ^ "A Talk With Violet Dickson". Aramco Services Company. December 1972. Retrieved 29 June 2020.
- ^ "Maximizing the Value of Real-Time Operations for Diagnostic and Optimization at the Right Time". OnePedro. Retrieved 29 June 2020.
- ^ "Resources and power". Encyclopædia Britannica. Retrieved 29 June 2020.