A fifth Egyptian giant drill will be sent to Saudi Arabia next week to begin exploratory oil and natural gas drilling operations, reports said.
Egypt’s minister of petroleum Sameh Fahmi was quoted by the dailies as saying that “the drill, which belongs to the Egyptian Drilling Company, is the fifth Egyptian drill to be hired by Saudi Arabia,” which has signed a three-year contract.
According to the contract, a 14-member Egyptian team will man the operation for three years at a cost of $100,000 per day. Fahmi added that “the company is also looking forward to exporting its technical experience in oil exploration, drilling and expand its international activities,” – Albawaba.com
