8 - Kuwait Oil Company

KOC Organizes First Technology DayAl-Rushaid: Modern technology is the engine ofsustainable development.Under the auspices of KOC Chairmanand Managing Director, Sami Al-Rushaid, the Research & TechnologyGroup (R&T) recently organized KOC’sfirst Technology Day. The event,which was attended by numerousguests and a large number of KOCemployees, included a presentationof technical papers and informationregarding projects jointly implementedby Research & Technology and othergroups within the company.The KOC Technology Day was thefirst event of its kind organized bythe company and demonstrates theimportant role that modern technologyplays in the oil industry. Becausemany of the technological tools usedin the oil industry today are verydifferent than the tools used in thepast, it is extremely important forlarge companies like KOC to adaptwith the times and adopt new methodsfor oil exploration and production.In addition to making many of KOC’soperations easier and more efficient,advances in technology can do muchmore than simply streamline oilexploration and production.One of the more advantageousbenefits of newer technologies is thatmany leave a smaller footprint on theenvironment – in other words, theyhelp reduce waste and decrease theamount of pollution generated fromolder technologies. In addition tomaking operations cleaner and moreefficient, there is also an economicadvantage to newer technologies inthe sense that they can cut costs bycutting down on the time needed toconduct tasks or introduce entirely12 April-June 2012