Arab Finance: National Drilling Company saw an 89.04% year-on-year (YoY) increase in net profits during the first quarter (Q1) of 2023, hitting $2.692 million, compared to $1.424 million, according to the company’s May 31st financial statements filed to the Egyptian Exchange (EGX).

The company generated revenues amounting to $5.556 million during the January-March period of this year, up from $3.291 million in the same period in 2022.

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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