Saturday, Jun 23, 2012
BEIRUT (Zawya Dow Jones)--The Egyptian Petroleum Development Co. is considering buying a new oil rig at a total cost of more than $15 million, Cairo-based Al Youm Al Sabea daily reports Saturday, citing an executive.
The company has begun implementing petroleum service strategies in new sectors in order to meet a growing demand for well drilling activities for oil and natural gas exploration, Abdel Meguid El Rashidi, the company's new president said, according to the paper.
Newspaper website: http://www1.youm7.com/News.asp?NewsID=713462&SecID=24&IssueID=0
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
23-06-12 1127GMT
