ArabFinance: National Drilling Company turned to profits during the first half (H1) of 2022, recording a net profit of EGP 2.127 million, compared to a net loss of EGP 715,940 in the same period a year earlier, according to financial statements filed to the Egyptian Exchange (EGX) on Monday.

The company’s revenue surged to EGP 6.974 million in H1 2022 from EGP 1.38 million in H1 2021.

National Drilling is an Egypt-based company engaged in the provision of oil field drilling services. The company provides technical support and services for field 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 with equipment, selling and storing related machinery, as well as trading in related spare parts.