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egyptian-drilling.com

Stage

Acquired | Acquired

Valuation

$0000 

About Egyptian Drilling

Egyptian Drilling Company began operations in 1976 as a 50/50 joint venture between Maersk Drilling and Egyptian General Petroleum Corporation, which is owned by the Ministry of Petroleum and Mineral Resources in Egypt.

Egyptian Drilling Headquarters Location

KM 17.5 Cairo Suez Desert Rd Nasr City House

Cairo,

Egypt

+202-2406-2222

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Latest Egyptian Drilling News

Petroleum Sector acquires 50% of Toyota’s stake in Egyptian Drilling Company

Aug 2, 2022

Petroleum Sector acquires 50% of Toyota’s stake in Egyptian Drilling Company Arab Finance: The Egyptian Ministry of Petroleum and Mineral Resources announced that the Petroleum Sector acquired the 50% stake owned by Japan’s Toyota in Egyptian Drilling Company, the Middle East News Agency (MENA) reported on August 1st. Accordingly, the sector became the owner of the two drillships Qaher 1 and Qaher 2 after the stakes of the Egyptian Natural Gas Holding Company and Ganope Petroleum Company in Egyptian Drilling Company increased to 85% and 15%, respectively. The acquisition occurred at the best time as global oil prices skyrocketing in tandem with the execution of an intensive drilling program in Egypt’s territorial waters, Minister of Petroleum and Mineral Resources Tarek El-Molla commented. Moreover, the minister said that the ownership of the two drillships has strategic and economic dimensions, El-Molla added. Provided by SyndiGate Media Inc. (Syndigate.info).

  • Where is Egyptian Drilling's headquarters?

    Egyptian Drilling's headquarters is located at KM 17.5 Cairo Suez Desert Rd, Cairo.

  • What is Egyptian Drilling's latest funding round?

    Egyptian Drilling's latest funding round is Acquired.

  • Who are the investors of Egyptian Drilling?

    Investors of Egyptian Drilling include Egyptian General Petroleum and The Maersk Group.

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