|
1934 |
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. |
| 1936 |
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. |
| 1938 |
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. |
