National Drilling’s profits rise 141% YoY in 2023

Updated 3/10/2024 12:00:00 PM
National Drilling’s profits rise 141% YoY in 2023

Arab Finance: National Drilling Company saw a 141.2% year-on-year (YoY) increase in net profits in 2023 to $11.676 million, versus $4.842 million, according to a disclosure on March 10th.

Meanwhile, the firm generated $26.525 million in revenues last year, up from $17.833 million in 2024.

National Drilling is an Egypt-based company engaged in the provision of oil field drilling services. The company provides technical support and services for fields drilling operations managing its four land drilling rigs, which are all presently contracted in Libya.

Its scope of services also includes the provision of rigs associated equipment, selling and storing related machinery, as well as trading in related spare parts.

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