Kuwait Oil Company (KOC)

Kuwait Oil Company (KOC)

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. KOC is the world's fourth-largest oil exporter. Chairman and managing director of the company is Mr. Hashim Sayed Hashim .

The Kuwait Oil Company was founded in 1934 by Anglo-Persian Oil Company and Gulf Oil as an equally-owned partnership. The oil concession rights were awarded to the company on 23 December 1934 and the company started drilling operations in 1936. 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.

The initial development of the oil industry coincided with the end of the British Raj in India and many British expatriate administrators and engineers transferred from there to Kuwait. They set up the oil town of Ahmadi which had the appearance of a typical British garrison town, with thousands of trees lining streets of pleasant bungalows in which lived a remarkable group of dedicated engineers and administrators who built up the oil industry while at the same time training Kuwaitis to take over eventual control

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 between the Kuwaitis and the British during the period when they and American expatriates developed the oil industry.

BP and Gulf were able to obtain the Kuwaiti oil at very favorable 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 Kuwaitis took over the ownership of KOC.

Mission

“The mission of Oil Development Company is to achieve the earliest award of the Operational Service Contract (OSC) with the International Oil Companies (IOC's), through a transparent process with all stakeholders and in accordance with Kuwait's constitution and laws; and to administrate and manage the OSC to the optimum benefits to the State of Kuwait”  

Vision

"Our vision is to promote and establish a shared environment of trust and partnership based on a mutual understanding of the social and technical benefits and economic value of co-operation, which will lay the foundation for a smooth transition from KOC to IOC operatorship of the specified North Kuwait fields. Concurrently we aim to achieve Kuwait's objectives which shall include meeting strategic targets for production of oil & gas, improving reservoir management practices and developing the more technically complex fields in a cost effective manner whilst creating development opportunities for Kuwaitis and maximizing the transfer of technology & know-how.”

Ahmadi Hospital

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The Ahmadi Hospital, commissioned in 1960, provides medical care to the patients across the oil sector. The officials are constantly keen to provide the best medical services. Thus, the hospital also plays a major role in delivering instructive medical lectures and issues booklets and brochures to promote awareness about health related matters.

Ahmadi Hospital offers a broad portfolio of medical treatment and related services, including Audiology;Accident & Emergency; General Practice; Internal Medicine; General Surgery; Orthopedics; Dermatology; Obstetrics & Gynecology; Pediatrics; Ophthalmology; Ear, Nose & Throat; Dentistry; Preventative Medical Services;Radiology; Anesthesia; Intensive Care Laboratory; Physiotherapy; and Dietary Services.

The Company is currently building a new hospital to the tune of about 86 million Kuwaiti dinars. The New Ahmadi Hospital has an innovative and functional design that is sensitive to regional and Islamic principles and traditions, as well as reflecting local environmental conditions. It incorporates state-of-the-art technology, as well as up-to the- minute energy and water conservation systems, and has been created with future growth and expansion in mind.

The hospital occupies a four-story building with a capacity for 300 beds, a number that is expected to increase to 400 in the future. The hospital will be equipped with state-of-the-art medical equipment in accordance with international standards.