NAPESCO earns KD 3.8 mln in H1 2023

KUWAIT, Aug 10 (KUNA) -- The National Petroleum Services Company (NAPESCO) posted KD 3.8 million (approx. USD 11.5 million) worth of net profits in the first six months of 2023, at a growth rate of 29 percent as compared to the earnings recorded in the same period of 2022.

The company said in a statement posted on Boursa Kuwait (the national stock exchange), on Thursday, that earning per share reached 39.5 fils.
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.
In 2001 the company began offering environmental services and today maintains a leading position within the Gulf region in this realm. (end) mka.aab.mah.