Minister of Petroleum and Mineral Resources Karim Badawi has commended Egyptian oil and gas sector companies operating abroad for their outstanding performance and operational efficiency.

This came during the general assembly of the Egyptian Drilling Company (EDC) to approve the results of the work of 2023 via video conference technology.

During the meeting, the minister conveyed his directive for continuing to raise the efficiency of EDC’s rig fleet, whose activity extends to Egypt and the Arab countries, enhancing the company’s competitiveness in the drilling market and continuing to pay full attention to applying occupational safety and health procedures at the company’s work sites.

EDC’s Chairman Osama Kamel reviewed the company’s most important performance indicators, pointing out that EDC is a distinguished model in its work in the Kingdom of Saudi Arabia, and its rig won the Driller of the Year award out of 284 drilling rigs operating on Saudi Aramco sites. 

The company owns and operates a fleet of 69 land and sea well drilling and maintenance rigs with various specifications and has succeeded over the past two years in adding six rigs to the fleet by purchasing and rehabilitating rigs.

For the second year in a row, EDC succeeded in reaching contractual rates of 100% for all drilling and well maintenance equipment by paying attention and giving priority to occupational safety and health standards and preserving the environment.

Additionally, EDC achieved operations performance rates of 99%, strengthening the confidence of major local and international production companies in Egypt, Saudi Arabia, and Kuwait.

The company is expected to achieve the highest operating revenues since the company’s inception in 2023, in light of the ministry’s strategy to develop foreign business and maximize sources of foreign exchange income.