*At press time, the conversion rate is $1 = EGP 15.69
National Drilling loss widens
Updated 6/6/2021 12:30:00 PM
ArabFinance: National Drilling Company incurred a net loss of $325,728 (EGP 5,110,854) in quarter one (Q1) 2021, according to the company’s June 6th financial statements filed to the Egyptian Exchange.
This marked a Year on Year (YoY) rise of 41% when compared to $230,837 (EGP 3,621,962) in Q1 2020.
reported a net profit of $175,402 (EGP 2,756,916) in 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 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.
