Cairo – Mubasher: The Egyptian Drilling Company (EDC) raised its market share in the onshore drilling sector to 80% in 2020, despite the challenges posed by the pandemic, compared to 60% in 2019, the company’s Chairman, Osama Kamel, revealed.

The company also boosted its market share in the well maintenance sector to 44% last year from 34% a year earlier, Kamel added in a statement on Tuesday.

The EDC owns 69 rigs for onshore and offshore drilling and well maintenance, including 59 in Egypt and 10 in Saudi Arabia, and manages two offshore rigs for the Egyptian Natural Gas Holding Company (EGAS) and an offshore platform for the Egyptian General Petroleum Corporation (EGPC).

These remarks came during the company’s general assembly headed by the Minister of Petroleum and Mineral Resources, Tarek El-Molla, to approve the business results for 2020.

Source: Mubasher

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