In 1991, a new three stage plan was presented which stressed the need for enrollment of the International Oil Companies in order to benefit from their technology and experience in the field of the development of Upstream Oil & Gas. The oil sector was able to overcome the burned oil fields and to restore the same rank Kuwait Oil Industry had before Saddam's aggressive invasion. The success was crowned with the acceptance of OPEC Organization to specify a new limit for the Kuwait oil industry which was two million barrel daily. This limit exceeded the one specified before the Iraqi invasion.

In 1995, a strategic plan was laid down that targeted the increase of oil production to close to 3 million barrels by the year 2005. However, it was evident from the production trends and from the advice of the technical experts that the Kuwait Oil Company was facing difficulties to accomplish that objective, which reaffirmed the need to seek the assistance of International Oil Companies, and confirmed the soundness of the 1991 plan.

The oil sector reevaluated the situation and the primary studies made clarified the situation. This allowed the Supreme Petroleum Council to make the appropriate decision in 1997, and the need for the assistance of the International Oil Companies, however, the oil sector was urged to reconsider the standard methods of dealing with these companies based upon oil shares and to study all Constitutional and legal conflicting issues concerning that subject. It was felt that a more economically viable mean of dealing with the International Oil Companies was by payment for their assistance based upon cash fees in return for their services.

“The Kuwait Project” was formulated on the following foundations:

• Oil industry in the Kuwait Northern fields to increase oil production from 400,000 to 900,000 barrels daily.
• The employment training and development of Kuwaiti citizens.
• The transfer of modern technology for the production and development of difficult oil fields.
• Minimizing the risk on Capital, to develop certain projects in the Kuwait Northern fields and to accomplish the most profitable income for the country.

The justifications given to seek the assistance of International Oil Companies concerning the oil sector field are purely technical, as the oil sector had tried, pre-invasion to increase oil industry to more than 2 million barrels daily, however it faced many technical difficulties since the local expertise was only able to produce “easy oil”, which Kuwait has been producing since the national administration was in charge of the operation after the nationalization of Kuwait oil in 1975.
The Northern fields of Kuwait were chosen among other fields because throughout history they had been generally the least developed fields in Kuwait, thus they were a natural alternative, and their successful increase in production would enable Kuwait to reduce the oil production of the Grand Burgan Field, the world's second largest oil field, in order to reserve its oil riches and its lesser producing cost for future generations.
When the preservation and utilization of Kuwait's oil riches were linked with the provision of the necessary technological resources, the oil sector was obliged to take the initiative and present projects that guaranteed the security and proper utilization of those oil riches.

Mission & Vision

At Oil Development Company we believe in building lasting and mutually beneficial relationships with all our partners.

These will include our customers, business partners, employees, shareholders, suppliers and the communities in which we operate.

Mission:

“The mission of Oil Development Company is to achieve the earliest award of the Operational Service Contract (OSC) with the International Oil Companies (IOC's), through a transparent process with all stakeholders and in accordance with Kuwait's constitution and laws; and to administrate and manage the OSC to the optimum benefits to the State of Kuwait”

Vision:

“Our vision is to promote and establish a shared environment of trust and partnership based on a mutual understanding of the social and technical benefits and economic value of co-operation, which will lay the foundation for a smooth transition from KOC to IOC operator ship of the specified North Kuwait fields. Concurrently we aim to achieve Kuwait's objectives which shall include meeting strategic targets for production of oil & gas, improving reservoir management practices and developing the more technically complex fields in a cost effective manner whilst creating development opportunities for Kuwaitis and maximizing the transfer of technology & know-how.”