- KUWAIT CITY: Kuwait Energy Company earned a net profit of $21.9 million in 2010, up 291 percent from 2009, and $85.6 million in operating cash flow, up 68 percent from 2009.
Kuwait Energy announced financial and operational results for the year 2010 during its annual meeting of shareholders.
Kuwait Energy recorded its fifth consecutive profitable year since inception.
Sales revenue: $141.8 million, up 61 percent from 2009
Total assets: $740.9m, up 9 percent from 2009
Average working interest production: 13,258 boepd, up 15 percent from 2009
Total exploration wells drilled: 11
Total development wells drilled: 33