KUWAIT CITY, Dec 24: Kuwait Oil Company (KOC) is celebrating its 90th anniversary this year, marking a remarkable journey of leadership and achievement in the oil and gas industry, and beyond. Throughout its history, KOC has not only led in oil exploration and production but has also demonstrated its commitment to Kuwait’s development and its responsibility to the world.

The company has focused on enhancing Kuwait's petroleum reserves and increasing production, significantly contributing to the national economy and supporting the country’s broader development. KOC has also prioritized developing human capital, both within the company and in the community, while being vigilant in protecting the environment and supporting various sectors. The company’s efforts align with its commitment to sustainable development.

KOC’s guiding principle has been unwavering support for Kuwait’s leadership and development, a pledge that has remained central to its operations. Mohammed Al-Abduljalil, the company’s official spokesperson and Deputy CEO for Planning and Innovation, highlighted that KOC's employees have worked diligently to fulfill this commitment, resulting in successive achievements and establishing the company as a model of excellence in the industry.

Al-Abduljalil reviewed key milestones in the company’s history, including its contributions during the most challenging times. KOC was established in 1934 through a partnership between the Anglo-Iranian Oil Company (now BP) and the American Gulf Oil Company (now Chevron). In 1936, KOC drilled its first exploratory well in the Bahra area, setting the foundation for the country’s oil sector. In 1938, KOC made a historic discovery by finding oil in the Greater Burgan Field, which remains the world’s second-largest oil field.

A major milestone occurred on June 30, 1946, when KOC exported the first shipment of crude oil. This historic moment was marked by the late Amir Sheikh Ahmad Al-Jaber turning the silver wheel to load the oil onto the British tanker, British Fusilier.

KOC's growth continued with the establishment of Ahmadi City, which became a symbol of the company’s progress, featuring administrative facilities, workshops, and residential buildings. Between 1951 and 1953, KOC expanded exploration to the Maqwa area, followed by a discovery in Rawdatain in 1955, further cementing Kuwait's role as a leading oil producer.

The company’s social and cultural contributions also played a significant role. In 1956, KOC established a specialized exhibition to educate the public about the oil and gas industry. The company also built key facilities such as the Houbara Center and Union Center, which fostered a sense of community among employees. In 1960, KOC inaugurated Al-Ahmadi Hospital, a state-of-the-art medical facility that served both the company’s employees and the broader community. This hospital evolved into a comprehensive health center, reflecting KOC’s ongoing commitment to employee welfare.

The 1970s marked a pivotal era for KOC. In 1974, Kuwait was granted a 60% stake in the company, and by 1975, full nationalization was achieved, ushering in a new era of growth. One of the significant outcomes of nationalization was the gas project in Mina Al-Ahmadi, launched in 1976. In 1977, KOC drilled its first deep exploratory well in the Burgan field, reaching a depth of 20,000 feet.

Despite the devastation caused by the 1990 invasion of Kuwait, KOC’s resilience shone through. The company faced a near-total halt in operations, but employees worked tirelessly to protect Kuwait’s oil reserves. After liberation, KOC mounted an unprecedented effort to combat the environmental disaster caused by the destruction of 727 oil wells by retreating Iraqi forces. KOC played a key role in extinguishing the fires and rehabilitating the facilities, completing the task in just 240 days.

Following liberation, KOC resumed operations, with the first post-liberation crude oil shipment exported on July 27, 1991. The restoration continued with the extinguishing of the final burning oil well, “Burgan 18,” on November 6, 1991, symbolizing the end of Kuwait's painful period and the beginning of a new chapter of recovery and progress.

Environmental sustainability has always been a core focus for KOC. The company has implemented stringent environmental standards alongside its operations and launched several environmental initiatives. Notably, between 2004 and 2016, KOC established seven natural reserves and oases, contributing to environmental sustainability. In 2005, KOC became the first oil company in the world to establish a marine colony, a groundbreaking initiative to preserve the marine environment.

KOC’s commitment to innovation and sustainability continued into the 21st century. In December 2009, KOC celebrated its 75th anniversary with a grand event attended by national and international dignitaries. In 2012, the company opened the Kuwait Center for Integrated Smart Fields, showcasing its early adoption of digital transformation in the oil and gas industry. The company also achieved significant reductions in gas flaring, lowering the percentage from 17% to 0.5%, positioning Kuwait as a global leader in gas flaring reduction.

In 2016, KOC launched the Ahmad Al-Jaber Oil and Gas Exhibition, a cultural landmark that highlights the company’s history and contributions. That same year, KOC introduced the "Sidra 500" solar energy project, generating 10 megawatts of electricity, the first such initiative for an oil company in the region.

KOC continued to make strides in exploration and production, completing a 3D seismic exploration project in Kuwait Bay in 2017, and in 2018, it marked a milestone by exporting its first shipment of light crude oil, expanding Kuwait’s reach in global markets.

The company continued its forward momentum by signing a contract with Halliburton in 2019 for offshore drilling operations. This project led to the discovery of significant oil reserves in the Bahri field, enhancing Kuwait’s position in the global energy sector. KOC’s efforts also extended to heavy oil production in 2020, where it successfully began operations in the South Ratqa field, despite the challenges posed by the COVID-19 pandemic.

In 2022, KOC launched the Ahmadi Environmental Walkway and the Hubara Innovation Center, reinforcing its commitment to community engagement and innovation. The company also achieved a major production milestone in North Kuwait, reaching 600,000 barrels per day, and set an ambitious goal of increasing production to 800,000 barrels per day by 2026.

Currently, KOC is focused on its 2040 strategy, which aims to enhance efficiency and productivity, alongside the 2050 energy transformation strategy, which is focused on achieving zero carbon emissions. The company’s internal restructuring ensures it is well-positioned to meet future challenges and global developments.

Through its achievements, KOC has established itself as a global leader in the oil and gas industry, continually innovating and expanding its horizons to ensure sustainable growth and strengthen Kuwait’s position in the global energy sector.