Mubasher: Burgan Company for Well Drilling, Trading, and Maintenance is currently working on renewing its drilling rigs and completing the essential spare parts to bid in the Kuwait Oil Company’s (KOC) tender, the chairman of Burgan Drilling, Ahmed Al Hamad, said.
Burgan Drilling is also working on delivering the drilling rigs of which contracts were renewed in the past period, the chairman added.
The company has achieved a net revenue of KWD 45.5 million during the fiscal year that ended 31 March 2017.
Al Hamad added that Burgan Drilling’s total expenses stood at KWD 43.1 million, with a net profit reaching KWD 2.45 million in the fiscal year ended 31 March 2017.
On Monday, Burgan Drilling’s ordinary general meeting (OGM) approved distributing 5% bonus shares as well as raising its capital to KWD 23.1 million from KWD 22 million through the bonus shares.
