The Kuwait Oil Company (KOC), an oil company headquartered in Al Ahmadi, Kuwait, is a subsidiary of the Kuwait Petroleum Corporation, a government-owned holding company. Kuwait was the world's 10th largest petroleum and other liquids producer in 2013, and fifth-largest exporter in terms of volume of crude oil and condensates. The managing director of the company is Ahmad Al-Eidan. Kuwait Oil Company, or KOC, is one of the world’s leading National Oil Companies. Furthermore, the company is also considered the backbone of the economic and social development for the State of Kuwait. KOC ’operations and activities of exploring and producing oil make up nearly 90% of the national budget, which is still highly dependent on oil in its resources. The Kuwait Oil Company Limited was established in 1934, through an alliance between the Anglo-Persian Oil Company, now known as the British Petroleum Company (BP), and the American Gulf Oil Company, now known as the Chevron Company, and is currently a subsidiary of the Kuwait Petroleum Corporation (KPC). The oil concession rights were awarded to the Company on 23 December 1934, and it started its drilling operations in 1936. The first oil discovery was in 1938 in Burgan field, which is still considered the second largest oil field in the world. Discoveries then followed in Magwa in 1951, Ahmadi in 1952, Raudhatain in 1955, Sabriya in 1957, and Minagish in 1959. On 30 June 1946, His Highness the late Sheikh Ahmad Al-Jaber Al-Sabah turned a silver wheel to start Kuwait's first crude oil export aboard the tanker "British Fusilier". This enabled the State of Kuwait to join the ranks of the world's major oil producers. Since its establishment, the Company, whose responsibilities include exploration and production of oil and gas, and oil storage operations until it is delivered to tankers to complete the exportation process, has sought to continuously develop and enhance its operations, and has succeeded in achieving many world-class achievements. This was accomplished through launching and implementing numerous pioneering initiatives and projects, related to its basic work in oil and gas production, or in other matters specifically related to health, safety, security, and the environment, as well as the development of society, and supporting various State institutions and bodies in the public and private sectors. Moreover, because one of its most important tasks is to maintain the position of the State of Kuwait as one of the most prominent