United Oil Projects Co. (UOP)
UOP was incorporated in the early eighties under the name of Kuwait Chemical Manufacturing Company (KCMC), interpreting the pioneer vision of its founders to meet both local and international market requirements for specialized chemicals.
In 2005, the company’s management adopted a reformed strategy for the development of its activities to adroitly meet and accommodate the frequent economic transformations and developments, as well as to foster its returns through seizing available investment opportunities in the energy sector, which has witnessed a profound growth during the years.
UOP focuses on specialized projects in the Energy, Oil & Gas and Petrochemical sectors through its direct investment in United Precision Drilling Company (UPDC) - a joint venture in partnership with Weatherford International Company. The Company also owns a significant share in Al-Khorayef Company for sale, maintenance & repair of oil production equipment L.L.C (AKC), a subsidiary of Saudi based Al-Khorayef Group. This is in addition to other strategic companies which are international market majors in these sectors.
The Company’s Chemical Division is a key producer of polymers, which are used in the manufacture of coatings and glass reinforced products, establishing a local and international presence under the brand name KCMC and becoming the largest resins supplier in Kuwait. UOP is certified to ISO9001:2008 (Quality Management System) and ISO14001:2004 (Environmental Management System) Standards.
|Ownership%||Name of Company|
|51.6%||Qurain Petrochemical Industries (QPIC) & subsidiaries|
Associates & Subsidiaries
|Ownership%||Asset Class||Name of Company||Country|
|48%||Associate||United Precision Drilling Company (UPDC)||Kuwait|
|25%||Associate||Al-Khorayef United Holding Company(AKUH)||Kuwait|
Production Capacities (KMT)
|Hydroxy and thermoplastic acrylics resin||5,000 tpa|
|Polyester resin||4,000 tpa|
United Precision Drilling Company (UPDC)
UPDC is a Joint Venture Company, established since 2005, with majority share-holding held between United Oil Projects & Weather ford. The Joint Venture caters to the Drilling Business requirement in the Kuwait market, both onshore & offshore, with the objective of building the largest, most technically and most highly regarded Drilling organization in Kuwait. Situated in the heart of Kuwait’s oil region in Al-Ahmadi, UPDC services Oil & Gas wells on a contractual basis. Main clients include Kuwait Oil Company & other Joint Operations.
Al-Khorayef United Holding Company (AKUH)
UOP’s 25?quired 25% shareholding in Al-Khorayef United Holding (AKUH) in 2007, while AKUH owns 100% of Al Khorayef Company for Supply, Maintenance, & Repair of Oil Production Equipment LLC, Kuwait. Al-Khorayef Company for Sale, Maintenance, & Repair of Oil Production Equipment LLC sells maintains and repairs oil production equipment. From inception, the company has offered pumping services to the state owned upstream company Kuwait Oil Company, the Joint Operation in Wafra and the Ministry of Electricity and Water.