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Kuwait Oil Company
Industry
Oil and gas industry
Founded
1934; 90 years ago (1934)
Headquarters
Ahmadi
,
Kuwait
Area served
Global
Key people
Ahmad Jaber Al-Eidan (CEO)
Products
Petroleum Natural gas
Owner
Government of Kuwait
Parent
Kuwait Petroleum Corporation
Website
www.kockw.com
Kuwait Oil Company (KOC), an oil company headquartered in Al Ahmadi, Kuwait, is a subsidiary of the Kuwait Petroleum Corporation, a government-owned holding company. Kuwait was the world's 10th largest petroleum and other liquids producer in 2010.[1] The company produced a total of 1.7 million barrels per day.
Kuwait's oil reserves have been nationalized since 1975,[2] with the KOC, established in 1979,[3] holding sole rights to the exploration and production of oil and gas within Kuwait.[4] KOC operations and activities of exploring and producing oil make up nearly 90% of the national budget, which is still highly dependent on oil in its resources.
Kuwait's oil reserves are estimated at 100 billion barrels.[5]
^"Slide Show: The World's Biggest Oil Companies". Forbes. Retrieved 6 March 2024.
^"Kuwait Oil Sector". AP Consulting. Retrieved 17 April 2023.
^"Kuwait Energy Data, Statistics and Analysis - Oil, Gas, Electricity, Coal" (PDF). Europe Energy Information Administration.
^"Kuwait - Country Commercial Guide - Oil and Gas". U.S. International Trade Administration. 30 December 2023.
^Hagagy, Ahmed (10 October 2023). "Kuwait seeks to boost oil production, pushes on with Durra gas field". Reuters.
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Global Information
