Following a decree issued on January 23 by Eng. Sameh Fahmi, Egypt’s Minister of Petroleum, Eng. Mohamed Hamed El Gohary, General Manager of Manufacturing for Petrojet, was appointed Chairman of the Egyptian Chinese venture that will jointly construct drilling rigs.

 

The company is to be established in the economic zone north of the Gulf of Suez in the Suez governorate. The company whose issued capital amounts to $30 million, is the first in Egypt and the Middle East to manufacture rigs with Chinese – Egyptian investment capital.