ArabFinance: National Drilling Company turned to losses during the full year ended December 31^st 2021, according to financial statements filed to the Egyptian Exchange (EGX) on Tuesday.

The company recorded a net loss of $2.093 million in 2021, compared to a net profit of $175,402 in 2020.

Revenue plummeted to $3.964 million in 2021, from $6.933 million the year before.

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.