Kuwait Oil Company reveals its profit- making strategies

Posted by John Smith on October 29th, 2015

Our company’s mandate revolves around three key purposes. It is our duty to explore oil fields in our country, once we explore and find a potential oil field we will then carry out drilling until we hit the oil rock. Consequently this will lead to us producing oil and gas to our local clients together with international customers. We have observed our duties as a recognized company to refine and store crude oil and its supplements. In addition we are still involved in delivering our products globally.

Our company was established in 1934 when an anglo-persian company discovered oil fields in Kuwait. Not only did they discover but also studied Burgan fields until they were able to refine their first crude oil. Moreover they were greatly supported by the ruling sheikh at that moment. In addition, this support facilitated the first export of crude oil by Kuwait oil Company.

We followed all the due process when introducing our business in Kuwait. It was successful as we only have control of 49% shares in our business. The rest of the shares we encouraged committed Kuwait residents to buy so that we may be legalized to conduct a business in here. However, this was the policy before 2001; nowadays we enjoy the parliament reversal of those enacted laws. We can full say we control 100% shares according to the passing of regulated foreign capital investment bill which was passed by parliament in 2001 to attracted foreign clients.

We have fully complied with the services agent Kuwait agreement. In this sector we have been guided by four key requirements-

• Terms of our agency agreements. We wrote it and hence we got registered by MCI. In this form we have indicated all the services we will offer.
• We are covered by the termination compensation cover. We are covered because sometimes we suffer as our services are mostly terminated even when we are not at faults. As our agent your work will not go down the drain because you will be compensated for the work done.

We are open to commission agents Kuwait who have our business interests at heart. However, they must be local citizen or will comply with our contract.  You should check our website regularly as we offer tenders Kuwait. For you to apply for our tenders, you must register with your personal information and send the vital scanned documents when applying for our tender.