A press release to Egypt Oil&Gas stated that Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, headed the general assembly of the Egyptian Drilling Company (EDC), to review 2016 results, in the presence of First Undersecretary of the Ministry for Gas Affairs, EGPC’s CEO, EDC’s CEO, Mr. Nymann Jensen, Maersk Group, Vice CEO, Claus V. Hemmingsen, Mersk’s CEO of the Energy Sector, and representatives of the Accountability State Authority.

During the assembly, El Molla said that EDC made remarkable achievements in  oil drilling during 2016, which represents an important step towards achieving more distinguished results in 2017. The minister added that the company has been able to maintain its activities despite the challenges of low oil prices and the global slowdown in oil and gas business.

In addition, El Molla pointed out the importance of focusing on increasing the work abroad and implementing petroleum drilling projects, which is an important source for increasing the revenues of the company in light of the opportunities available, especially in the Arab countries and the Gulf region.