Sino Tharwa’s CEO, Ahmed Anwar, stated to Egypt Oil&Gas that the company contracted with China’s Sinopec Star Petroleum Company to become its Seismic Marketing Agency in Egypt. The three-year contract, with a renewal option, is expected to result in around $5m annual profit for Sino Tharwa.
This came as the company’s seismic analysis services have been registered with the Egyptian General Petroleum Corporation (EGPC). Additionally, Anwar informed that Sino Tharwa is currently bidding on a seismic analysis tender launched by Apache.
In Addition, the company is offering services related to drilling water wells and maintenance as well as providing mud-logging units, drilling rigs and seismic acquisition.
In related Sino Tharwa global expansion news, the company bided in the tender that was launched by Saudi Arabian American Oil Company (ARAMCO) to rent out three drilling rigs. The rigs in the tender are ST-2, ST-5 and ST-6 drilling with total capacity 1500 horse power. The Aramco tender will close end of January.