Kuwait Oil Company (KOC) was founded on December 23, 1934 as a joint venture between Anglo-Persian Oil Company (now BP) and Gulf Oil Company (now Chevron). The company is headquartered in Al Ahmadi, Kuwait and is a 100% subsidiary of the Kuwait Petroleum Corporation (KPC), a government-owned holding company. KOC plays a central role in Kuwait's economy by producing around 1.7 million barrels of oil daily and contributing to nearly 90% of the national budget.
The company employs approximately 8,933 people as of December 2025. KOC reported net income of KWD 233.7 million (US$ 761 million) in FY 2024/25. The company's operations span exploration, production, storage of crude oil and delivery to tankers for export. Oil was first discovered in 1938 at the Burgan field, which remains one of the world's largest oil fields.
Recent Leadership and Strategic Developments
Ahmad Jaber Al-Eidan serves as Chief Executive Officer of Kuwait Oil Company. In 2024, KOC unveiled organizational changes across seven major directorates to enhance operational efficiency. The company plans to boost oil production capability to 4 million barrels per day by 2035.
Facts compiled by Executive Moves from publicly available news and press releases on 27 August 2026. Spotted an inaccuracy? Email us and we'll review within 1 business day.
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