In the offshore Neutral Zone (now "Divided Zone") between Kuwait and Saudi Arabia, Arabian Oil Company, Ltd. (AOC) discovered Khafji oil field in 1960 and Hout oil field in 1963, under the Concession Agreements concluded with Saudi Arabia in 1957 and with Kuwait in 1958.
Since the start-up of the commercial production of Khafji crude in 1961, AOC has been playing a pioneering role as a Japanese company in developing overseas oil fields for more than 40 years.
AOC has been securing stable supply of crude oil to Japan, which aggregates 2.8 billion barrels, or 46% of crude oil imported to Japan from overseas oil fields developed by Japanese companies, as of the end of 2001.
Mode of Finance
Legal status: limited liability
(last updated: 31-May-2002)
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Saudi Arabia \ Private Large Industrial Companies \ Arabian Oil Company
