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FINANCIAL NEWS
Kuwait Energy Company capital exceeds USD1b
08 Oct 2015
(MENAFN) Chairman of Kuwait Energy Company said the company’s capital exceeded USD1 billion, pointing out that the company began its work with a capital of USD3 million ten years ago.
The company began its work that time with four employees, while the current staff reached 700 employees, he said in a press statement on sidelines of the company’s celebration, marking the tenth anniversary.
The company after a decade of its establishment “has achieved a lot and there is still a lot to do… we have started without production but today we have about 30,000 barrels per day in four countries,” he added.
The company’s growth rates during the past ten years exceeding 1,000 percent, “where we started with about USD3 million, and the value of the company currently exceeds USD1.5 billion,” CEO said.
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