Kuwait Oil Company
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. The company produced a total of 1.7 million barrels per day.
| Industry | Oil and gas industry |
|---|---|
| Founded | 1934 |
| Headquarters | , |
Area served | Global |
Key people | Ahmad Jaber Al-Eidan (CEO) |
| Products | Petroleum Natural gas |
| Owner | Government of Kuwait |
| Parent | Kuwait Petroleum Corporation |
| Website | www |
Kuwait's oil reserves have been nationalized since 1975, with the KOC, established in 1979, holding sole rights to the exploration and production of oil and gas within Kuwait. 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.
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