Egypt: National Drilling’s profits down 46.13% YoY in 9 months

The company generated revenues of $11.697 million during the January-September period of this year, down from $19.726 million in the same period in 2023

Staff Writer, Arab Finance

November 13, 2024

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National Drilling Company saw a 46.13% year-on-year (YoY) decrease in net profits during the first nine months of 2024, hitting $4.917 million, compared to $9.129 million, according to a filing on November 13th.

The company generated revenues of $11.697 million during the January-September period of this year, down from $19.726 million in the same period in 2023.

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 equipment, selling and storing related machinery, as well as trading in related spare parts.

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