The Egyptian Drilling Company (EDC) became 100% Egyptian, Minister of Petroleum, Tarek El Molla, declared during the general assembly of the company’s 2018 business results, Egypt Oil & Gas reports.
El Molla pointed out that making EDC 100% Egyptian is considered a leap that prepares all employees to bear the responsibility of preserving the standards of the company’s performance.
EDC expanded its scope of work, currently owning 40 onshore drilling rigs, four offshore rigs, 21 wells maintenance rigs, two lifting units, and one offshore device, said Osama El Husseiny, head of the company.
EDC owns 53% of the Egyptian onshore drilling market, 36% in maintenance, and 15% in offshore drilling, El Husseiny noted, adding that the company is expected to increase its offshore activities in the coming period with new opportunities available in the Red Sea and the Mediterranean Sea.
The company also runs two offshore devices and an offshore platform and owns a drilling rig in Syria, El Husseiny stated.
The company successfully added an offshore drilling rig and an onshore drilling rig in Saudi Arabia, boosting its number of rigs to seven onshore and three offshore.