Kuwait Oil Company (KOC) is established by British Petroleum (BP) and Gulf Oil Corporation, now known as Chevron.

H.H. Sheikh Ahmad Al-Jaber Al-Sabah (1885–1950), the ruler of Kuwait from 1921 to 1950, signs Kuwait’s oil concession agreement.

KOC is incorporated in London with an initial capitalization of GBP 50,000.


The first oil concession is granted by Sheikh Ahmad Al-Jaber Al-Sabah.

First drilling rig used in Kuwait, Bahra, North Kuwait; KOC drills to 7,950 ft, but it is dry.

KOC begins geophysical survey.

H.H. Sheikh Ahmad Al-Jaber Al-Sabah visits the site of Kuwait’s first oil well in Burgan.

1937 Burgan Field Discovery Well, BG-I-IM, is spudded; it is the first oil well in Kuwait.

BG-I-IM's first production, commercial quantities. At the time, Burgan was the world’s largest oil field and today is the second-largest field ever discovered (after Ghawar in Saudi Arabia).

1939 Schlumberger runs the first well log in Kuwait, on well Burgan 3.
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