The field, whose production is around 280,000 bpd-300,000 bpd, will be brought offline “immediately”.
The bank made a net profit for the three months to the end of September of KD10.9 million ($37.8 million), compared to KD9.8 million in the year-earlier period.
Burgan said it plans to issue 216 million new shares and that the rights issue will raise its paid-up capital to KD197.18 million.
Kuwait Foreign Petroleum Exploration Company (Kufpec) was last in the market in June 2013 when it sealed a five-year $750 million deal.
Kuwait Oil Co intends to spend some $42 billion on oil and gas projects over five years.
The cabinet “accepted” a report by a committee at the Ministry of Electricity and Water on hiking prices of diesel and kerosene more than threefold, state news agency KUNA reported.
The decline in third-quarter net profit came despite the bank posting a 7.8 per cent increase in its operating revenue.
Kuwaiti crude for November was priced at a discount of 50 cents per barrel to Saudi Arab Medium, unchanged from a month ago and the widest in 10 years.
The contract, secured by Agility Defense and Government Services, will run from October 2014 to April 2016, the company said in a statement.
Kuwait’s oil minister Ali al-Omair said that cutting output would not necessarily prop up prices.
The deal with Kuwait Foreign Petroleum Exploration Co helps Chevron reduce production risk and gives it more capital to increase drilling in Alberta’s Duvernay shale formation.
The refinery could be converted into a storage terminal or might be shut down permanently following the cancellation of the investment, an official said.
Kuwait has invited BP, Total, Royal Dutch Shell, ExxonMobil and Chevron, to bid for an agreement for the northern Ratqa heavy oilfield.
The unit, which will include several aircraft, has been deployed to deal with sudden contingencies, said Pentagon spokesman Rear Admiral John Kirby.
The bank will book a profit of KD25 million from the sale in its 2014 accounts, it said in a bourse filing.
Global’s management team comprising Group CEO Ghunaim, CEO Bader al-Sumait, and executive vice presidents had resigned prior to its general meeting in September.
The International Monetary Fund did not give details of the reforms and government officials were not available for comment.
Kuwait-born Saad Al-Ajmi, spokesman of the nationalist opposition Popular Action Movement, was one of 18 people to have their citizenship removed.
The U.N. Security Council last month named six people who would be subject to asset freezes because of their links to the Islamists and threatened sanctions against those who financed the insurgents.
The budget surplus, equivalent to around 26 per cent of gross domestic product, was up marginally from KD12.7 billion, or nearly 25 per cent of GDP, in the previous fiscal year.
The deal for two million barrels a month of Kuwaiti crude was signed with the Arab Petroleum Pipeline Co.
Investor orders for the issue grew to over $850 million, the document showed.
The bond with a perpetual tenor can be bought back by the lender after the fifth year.
The restructured loan is repayable over a period of seven years, the company said.
Kuwait has invested almost $18 billion in Germany.
The deal might be valued at about $3.2 billion, according to the list prices of the aircraft.
The Kharafi family is the billionaire majority shareholder with 66.8 per cent of the firm.
The job losses account for about 15 per cent of its workforce.
The Clean Fuels Project will upgrade and expand two of the Gulf Arab state’s largest existing refineries with a focus on producing diesel and kerosene for export.
The governor attributed the dip in oil prices to a rise in supply and slower demand over summer.