Kuwait Gulf Oil Company (KGOC) is a Kuwaiti closed stock company fully owned by the Kuwaiti Petroleum Corporation (KPC). It was established on February 2, 2002, to undertake the control of interest of the State of Kuwait in the offshore area adjacent to the divided zone between it and the Kingdom of Saudi Arabia after the termination of the concession agreement between The State of Kuwait and the Arabian Oil Company (AOC) on January 4, 2003.

The Company’s Board of Directors comprises of seven members, assigned by the Kuwait Petroleum Corporation (KPC), and chaired by Mr. Muhammad Ali Jazzaf who is the first chairman of the board and Managing Director of the company. The company will begin its actual oil operations in the joint operations on January 5, 2003 as the representative company of the State of Kuwait jointly with Aramco Gulf Operations Company (AGOC), the representative company from the Kingdom of Saudi Arabia side.

Objectives of the KGOC

• To undertake all activities related to prospecting and drilling for oil and gas, developing oil fields and producing oil and gas for export
• To undertake all activities related to refineries operations, reproducing the refined products, in the form of industrial compounds, and transporting, storing, exporting and distributing the subject products
• Marketing and selling Kuwait portion of gas and oil either in the form of crude oil or as industrial compounds and derivatives
• Safeguarding the interest of the Sate of Kuwait of the joint operations revenues in order to exploit the hydrocarbon natural resources