Corporate Data Oil & Gas Technology Financial Data HSE Activities Company History Company's Bridging Role Japanese AOC Holdings

Company History
1957 Dec. Conclusion of Concession Agreement between Saudi Arabia and Japan Petroleum Trading Co., Ltd.
1958 Feb.
Establishment of AOC which inherited Concession Agreement concluded between Saudi Arabia and Japan Petroleum Trading Co., Ltd.
1958 Jul. Conclusion of Concession Agreement between Kuwait and AOC.
1960 Jan.
Discovery of oil at Well No.1 in Khafji Oil Field.
1960 Feb. Announcement of the discovery of Khafji crude oil in commercial quantity.
1961 Mar. First shipment of Khafji crude oil.
1962 Jul.
Completion of permanent production and loading facilities.
1963 Oct.
Completion of Khafji Refinery with a capacity of 30,000 barrels per day.
1963 Nov.
Discovery of Hout Oil Field.
1967 Jan.
Establishment of Kuwait Institute for Scientific Research by AOC.
1967 Feb.
Discovery of Lulu Oil Field (undeveloped)
1967 Nov.
Discovery of Dorra Gas Field (undeveloped)
1969 Aug. First shipment of Hout crude oil.
1974 Jan. Governments' participation in the Company's operations by 60%.
1983 Apr. Establishment of AOC Energy Development Company, Ltd.(AEDC), a 100% subsidiary.
1991 Jan. Temporary shutdown of operations (up to early June) by outbreak of the Gulf War.
2000 Feb.
Expiry of Concession Agreement with Saudi Arabia and shift to Joint Operations with Aramco Gulf Operations Company (up to January 2003).
2003 Jan.
Expiry of Concession Agreement with Kuwait.

Conclusion of New Agreements with Kuwait.

Business integration with Fuji Oil Co., Ltd.(Establishment of AOC Holdings,Inc. a joint stockholding company)
2003 May
Merger of AEDC into AOC
2003 Jul.
Reduction of the Capital Stock to 13,000 million yen.
2005 Jun.
Conclusion of Memorandum of Understanding with Iraq's Ministry of Oil on technical assistance to Iraq's upstream oil sector.
2005 Jul.
Conclusion of Production-Sharing Contract with Egyptian goverment and Egyptian General Petroleum Corp. for oil & gas exploration and development in the Northwest October Block of the Gulf of Suez.
2006 Oct.
Conclusion of Memorandum of Understanding with Iraq's Ministry of Oil on technical cooperation in Iraq's upstream oil sector (renewal of the previous Memorandum).
2008 Jan.
Expiry of Technical Service Agreement with Kuwait concluded in 2003
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