Kuwait Gulf Oil Company (KGOC) on Saturday signed a five-year contract with Burgan Company for Well Drilling, Trading and Maintenance, to dig and carry out a maintenance operation for wells in Al-Wafrah area at a total cost of KD 48.2 million. In a press statement, Burgan Company said the contract was signed by its Board Chairman Ahmad Hamad Al-Hamad and Chairman of the KGOC Muaed Al-Bassam in a huge ceremony held here today. KGOC Chairman Al-Bassam said the contract is part of the historic and long-standing partnership between the two companies. \"Burgan Company has carried out many well digging infrastructure and maintenance operations for the KGOC,\" he said, adding that his company is planning a series of huge projects to increase its oil production to 500,000 barrels per day. For his part, Al-Hamad thanked KGOC for its confidence in the Burgan Company.