*At press time, the conversion rate is $1 = EGP 15.72
National Drilling turns to profit
Updated 3/31/2021 5:06:59 PM
ArabFinance: National Drilling Company reported a net profit of $175,402 (EGP 2,756,916) in 2020, according to the company’s March 31st financial statements filed to the Egyptian Exchange.
In 2019, National Drilling posted $980,199 (EGP 15,406,473).
The company posted a net profit of $507,887 (EGP 7,948,127) in the first nine months of 2020.
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 through 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.
