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The Kuwait Oil Company is one of the
largest oil companies in the
world, and is the backbone of Kuwait´s
economy. The company is
involved in many activities relating to
oil and natural gas exploration.
The Kuwait Oil Company was formed in
1934 as a joint venture
between the British Petroleum Company
(BP) and the Gulf Oil
Corporation (GOC). The Government of
Kuwait took over the
ownership of KOC in 1975, and Kuwait Oil
Company is today
a state-run organization. In 1980 Kuwait
Petroleum Corporation was
established to bring all state owned oil
companies under one entity.
In Kuwait, oil has been found in
significant and commercial quantities
at a number of occasions. Super light
crude oil was discovered at
Sabriya in 2005. The discovery of the
API 52 crude oil represents
a giant leap in the company´s
exploration abilities. In 2006, gas was
discovered in the deep Jurassic
reservoirs at Rahiya, Mutriba, Um
Niga, and other fields. These discoveries
fulfill a long awaited Kuwaiti
dream of becoming self-sufficient in gas which
will be used for power
generation.
Working in Kuwait Oil Company means
achieving success not only
dependent on production figures, but
also on the safety of the activities
accomplished, and the preservation of
employees, their safety being
a top priority. Employees´ safety and
health are primary requirements
for achieving development in production.
Kuwait Oil Company is expected to face
significant employment
challenges in its heavy oil and gas
business, due to the competitive-
ness within the global recruitment markets.
The company has also
recently moved from a coast centre business
process to a profit centre
business concept.
Since its most important asset
is the people, the company will need
to ensure that systems and
processes are embedded in its organi-
zation in such manner that value
is added by engaging them most fully
with the company´s business
activities.
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