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FINANCIAL NEWS
Kuwait Energy’s Q3 revenues grow 24.2%
08 Nov 2012
(MENAFN) Kuwait Energy’s CEO, Sara Akbar, announced that the company’s third-quarter revenues jumped 24.2 percent from a year ago to USD59.5 million, reported Kuwait News Agency (KUNA).
Akbar said that from the previous quarter, revenues grew by 12.9 percent.
She added that output reached 17,520 barrels of oil equivalent per day (boepd), representing a climb of 29.1 percent from the 13,568 boepd posted in 2011’s same period, and a 3.6-percent rise from the second quarter.
It is worth noting that during the quarter, Kuwait Energy drilled up to 13 development wells, of which 9 were in Oman, whereas the rest were in Egypt, Yemen and Russia.
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