Egypt’s EDC posts strong 2025 results, expands overseas footprint

The Egyptian Drilling Company (EDC) reported strong 2025 results, with revenues of about $402 million and net profit after tax of $132 million, while operational efficiency reached 98.8 per cent, the Ministry of Petroleum said on Sunday.

Chairman Osama Kamel announced the results during the company’s general assembly meeting, attended by Petroleum and Mineral Resources Minister Karim Badawy. The session coincided with EDC’s 50th anniversary.

Kamel said the company is expanding its international presence into India, the United Arab Emirates, Oman, Türkiye, and West Africa. He added that EDC has secured new contracts in Kuwait and Türkiye, expected to generate about $86 million in revenues.

He said the company is preparing a five-year strategy through 2030 focused on expanding its rig fleet, upgrading technology, strengthening its international footprint, and investing in human capital, while maintaining high safety and environmental standards.

Minister Badawy said EDC plays a key role in Egypt’s plan to boost oil and gas production over the next five years, calling for deeper international partnerships and expanded training programmes to support rising drilling activity.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser