Interpreting the pioneer vision of its founders, United Oil Projects Company (UOP) planted the first seedlings of the resin industry in the region by setting up the first ever- manufacturing factory in 1979 under the name Kuwait Chemical Manufacturing Company (KCMC).

As the Industrial landscape evolved, UOP quickly responded by boosting the paid-up capital from 2.5 Million Kuwaiti Dinars to KD 10 Million, approximately USD 32.9 million, in 2005 to equip itself and take advantage of the growing opportunities. Going from strength-to- strength, UOP moved into the Oil & Gas sector and initiated direct investments, alliances, and joint ventures with internationally reputed market players. Within a brief period of time, UOP was able to distinguish itself as one of the leading private Kuwaiti companies in its sector, through active, long-term investments. UOP’s investments cover companies & projects to develop promising sectors & UOP owned companies. They include United Precision Drilling Company (UPDC), and United Qmax Drilling Fluids (UQDF) in the oilfield services.

Currently, UOP is a subsidiary of Kuwait Projects Company (KIPCO). KIPCO is a holding company that focuses on investments in the Middle East and North Africa regions.

KIPCO’s core business sectors are financial services (including holdings in commercial banks, insurance companies, asset management and investment banking), media, real estate, and industry.

In addition to its ownership in UOP, KIPCO investment portfolio in the Oil & Gas sector include stakes in Kuwait’s largest Petrochemical projects, such as EQUATE petrochemicals, The Kuwait Olefins Company (TKOC) as well as Kuwait Aromatics (KARO). KIPCO’s also holds significant interests within the industrial services & manufacturing sector through its controlling stakes in National Petroleum Services Co. (NAPESCO), Jassim Transport & Stevedoring Co. (JTC), Saudia Dairy & Foodstuff Co. (SADAFCO) and Insha’a holding.