Kuwait Oil Company K.S.C. (“the Company”) is a wholly owned subsidiary of Kuwait Petroleum Corporation
(“the Parent Company” or “KPC”). The Parent Company is wholly owned by the Government of State
of Kuwait.
The Company is engaged in exploration, drilling, production and transportation of hydrocarbon resources
within the State of Kuwait. The Company is also engaged in the storage of crude oil and its export. Hydrocarbon
resources managed by the Company are the sovereign property of the State of Kuwait. Crude oil is extracted
from reserves in Kuwait and, on the instructions of the Parent Company, is exported as blended crude
or passed to Kuwait National Petroleum Company K.S.C. (“KNPC”) for further processing or to the Ministry
of Electricity and Water for power generation. Gas produced is treated similarly. The sales and marketing of
crude oil produced by the Company is undertaken by the Parent Company.
The Company owns no oil and gas reserves nor any oil and gas inventory other than those required for operations.