Kuwait Gulf Oil Company

Kuwait Gulf Oil Company (KGOC) was created in February 2002 as a subsidiary of Kuwait Petroleum Corporation to manage Kuwait’s share of the natural resources in the Partitioned Zone that lies between Kuwait and Saudi Arabia, which includes the Durra, Wafra and Khafji fields, among many others.

In accordance with agreements over the management of the divided zone, the company engages in:

• Exploration
• Drilling
• Development of oil fields
• Transportation and treatment of oil and gas
• Management of oil refineries
• Marketing and sale of oil and gas

This is done through Wafra Joint Operations, a 50-50 JV with Saudi Arabian Chevron Company that operates onshore, and Khafji Joint Operations, a 50-50 JV with Aramco Gulf Operations Company that operates offshore.

Onshore operations cover an area of approximately 5,000 square kilometres. The first discovery in this area was made in 1954 and, to date, a total of six major fields have been discovered: Arq, Humma, Wafra, North Wafra, South Fuwaris and South Umm-Gudair.

Offshore operations cover an area of approximately 7,000 square kilometres. To date, four major fields have been discovered: Durra, Hout, Khafji and Lulu.

KGOC plays a key role in Kuwait’s overall energy strategy, and balances the responsibility of extracting value from mature fields with the high expectations placed on newer developments such as Durra, which some estimates say may hold upwards of 500 million cubic metres of natural gas, oil and oil condensates.