By Obiabin Onukwugha
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi has underscored the pivotal role of the Egyptian Drilling Company (EDC) in delivering the government’s five-year plan to boost domestic oil and gas production
The minister also highlighted the EDC’s central role in executing well drilling programmes, and called on the company to forge strategic partnerships with regional and international drilling firms so as to strengthen its technical capabilities and support production targets.
Badawi spoke on the sidelines of the 50th anniversary of the company, on Monday, stressing the importance of developing a comprehensive plan to train and upskill drilling personnel, in line with the anticipated expansion in exploration and production activities in the coming period.
Dailynewsegypt reported that founded in 1976 with a capital of EGP 100,000 and a single onshore rig, EDC has grown into a major industry player.
It now operates a fleet of 66 rigs for drilling and maintenance of oil and gas wells, both onshore and offshore, employing around 5,600 workers, technicians and engineers across Egypt and international markets, including Saudi Arabia and Kuwait. The company has evolved into an integrated service provider trusted by major energy companies across the Middle East.
EDC has continued to implement its expansion strategy by strengthening its presence in international markets and targeting new opportunities in India, the UAE, Oman, Turkey and West Africa, and has already secured new contracts in Kuwait and Turkey, with expected revenues of around $86m.
EDC is currently preparing a five-year strategic plan extending to 2030, aimed at achieving sustainable, high-quality growth. The plan includes the gradual addition of new rigs and the modernisation of its existing fleet with advanced technologies to enhance competitiveness, improve operational efficiency and meet rising demand in both domestic and international markets.
The strategy also focuses on carefully managed international expansion, diversification of the client base and increased operational capacity, while maintaining full compliance with the highest standards of occupational health, safety and environmental protection, alongside continued investment in human capital.
Despite challenges in 2025 stemming from global market volatility and geopolitical developments, EDC delivered solid financial and operational performance. Revenues reached approximately $402m, while net profit after tax stood at $132m, supported by a high operational efficiency rate of 98.8%.
The company also continues to prioritise the implementation of an integrated occupational health, safety and environmental (HSE) system, with performance indicators exceeding global benchmarks.
