During the company's general assembly, he added that the ministry supports the Egyptian Drilling Company's plans for foreign market expansion, particularly strengthening its presence in Saudi Arabia and Kuwait and entering new markets in the near future. He indicated that the company's strong competitive advantages position it well for this expansion. These advantages include its leadership in the local market, extensive experience collaborating with major international companies in Egypt, its integrated fleet of onshore and offshore drilling rigs, and its successful track record abroad with major institutions like Saudi Aramco and Kuwait Oil Company (KOC).
Minister Badawi emphasized the critical need to
maximize the utilization of the company's drilling rig assets, particularly
given its increasing role in the ministry's strategic objectives of boosting
domestic petroleum production and strengthening international partnerships. He
also underscored the importance of enhancing human resource efficiency through
targeted training and qualification in this specialized sector, alongside
developing new talent to bolster the company's competitiveness and success.
Furthermore, Minister Badawy stressed the necessity of learning from past
safety experiences and reviewing any incidents to ensure a secure work
environment. He concluded by thanking all company employees, recognizing them
as the key to the successful execution of the company's international expansion
plan.
Engineer Osama Kamel, the company's chairman, reviewed key
performance indicators, highlighting the company's significant steps towards
expanding its business beyond Egypt. This includes collaborating with new
clients and establishing partnerships to enter new markets in India, the United
Arab Emirates, Qatar, the Sultanate of Oman, Turkey, Algeria, West Africa,
Brazil, and Thailand, alongside further expansion in Saudi Arabia and Kuwait.
He noted that the company owns and manages an integrated fleet of 69 onshore
and offshore drilling and maintenance rigs, supported by a workforce of
approximately 6,000 workers, technicians, and engineers across its operations
in Egypt, Saudi Arabia, and Kuwait.
In 2024, the company successfully drilled nearly 200 new
wells and maintained over 600, while adding two onshore drilling rigs equipped
with the latest technologies to its fleet. Impressively, the company maintained
safety performance indicators exceeding global averages, with no lost-time
injuries recorded during drilling operations. Furthermore, the company prioritizes
continuous safety system reviews on its rigs through an accredited external
entity.
Kamel reported on the external successes of the Egyptian
Drilling Company. He highlighted the continued distinguished performance of the
Drilling and Petroleum Services Company, the Egyptian Drilling Company's
subsidiary in Saudi Arabia, with Saudi Aramco. Ten of the company's onshore and
offshore drilling rigs operate across various regions of the Kingdom. Notably,
the onshore drilling rig EDC 45 received an excellence award from Aramco in
2024, marking another year of recognition for Egyptian drilling rigs working
with Aramco. Over the past three years, the company achieved an average of
97.2% in Aramco's rig performance efficiency index, with Aramco officially
commending the record performance of Egyptian drilling rigs, reflecting the
company's consistent commitment to operational excellence and high quality.
Engineer Kamel also noted the Egyptian Drilling Company's continued success in
the Kuwaiti market, where it also received a certificate of excellence.
In terms of financial performance, the company's revenues for the year reached approximately $406 million. Demonstrating its commitment to developing its workforce, the company implemented training and qualification programs for newly graduated engineers to ensure a continuous supply of skilled professionals. The Egyptian Drilling Company's training center is a leading specialized facility in the sector, holding international accreditations and delivering training programs aligned with the latest global standards, thereby enhancing the efficiency of the company's employees.