IDM to lure more investments

Though being new in the Egyptian Petroleum sector, the International Drilling Material Manufacturing Co (IDM) for Casing and Tubing, fulfilled requests from top companies, such as Qarun, Agiba, Badr El-Din and the General Petroleum Company to provide drilling equipments over the past three months.

“The company started its operations in last January, and we did succeed to fulfill the requests we receive ahead of schedule and now we signed contracts with Agiba, Qarun and Khalda,” said Eng. Mohamed Gohary, Chairman of IDM.

“The total investment of the company is $30 million and we are discussing future plan to commence the second production line of tubing. Currently, we are already having the casing line,” he added.
IDM is a joint venture company between the Chinese side; Star Oilngas Limited and PetroMaterials Co (50%) and the Egyptian side; Ganope (20%), Enppi and Petrojet (15% each).


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