Cairo – Mubasher: Egypt Kuwait Holding (EKH) mulls drilling five wells in 2018 at a total value of $110 million, according to a bourse statement on Monday.
The company, which is listed on Boursa Kuwait and the Egyptian Stock Exchange (EGX), has completed the drilling of two wells in Port Said, Egypt.
EKH noted that the preliminary results for drilling the wells are positive, the statement added.
It is noteworthy that EKH’s profits surged by 92.7% to $138.18 million in fiscal year 2017 compared to $71.7 million in the prior fiscal year.
