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Kuwait's Burgan boosts share capital by $5m

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Monday, 17 August 2009
CAPITAL BOOST: Kuwait’s Burgan Company for Well Drilling, Trading and Maintenance agrees to increase share capital by KD1.46 million. (Getty Images)
CAPITAL BOOST: Kuwait’s Burgan Company for Well Drilling, Trading and Maintenance agrees to increase share capital by KD1.46 million. (Getty Images)

Kuwait’s Burgan Company for Well Drilling, Trading and Maintenance, is to increase its share capital to KD20.9 million ($73 million) from KD19.5 million.

The move was agreed on Sunday by shareholders.

Latest accounts show the company posting full year net profit through March 31 2009 of KD6.8 million on revenues of KD30.4 million.

In January and February, the company signed three contracts worth a total of KD144 million; including two five-year contracts with the Kuwait Oil Company and the third with Al Khafji Joint Operations (KJO) for one year.

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