Kuwait's NAPESCO posts over $9mln in H1 profits

Dividends per share amounted to 30.6 fils per share in the first half of this year

Staff Writer, Kuwait News Agency (KUNA)

August 11, 2022

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KUWAIT - Kuwait's National Petroleum Services Company (NAPESCO) on Thursday announced a net profit of KD 2.9 million (USD 9.5 million) in the first half of 2002, compared with KD 2.3 million (USD 7.5 million) in the corresponding period of 2021, up 24 percent.

Dividends per share amounted to 30.6 fils per share in the first half of this year from 24.7 fils in the same period last year, the company said in a disclosure posted on the Boursa Kuwait's website.

National Petroleum Services Company (NAPESCO) was founded in 1993 with an authorized capital of KD 10 million (USD 33 million) as a private company offering pumping services to the Kuwaiti energy sector. NAPESCO has established itself as a leading provider of upstream oilfield services including cementing, stimulation, coiled tubing, nitrogen, and downhole service tools.

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