A high level cooperative project took place between China and Egypt forming SinoTharwa Drilling Company which serves the oil and gas industry providing comprehensive DRILLING, WORK OVER and MUD LOGGING services in Egypt. SinoTharwa had been established in 2005 as a joint venture between Tharwa Petroleum Company – a subsidiary of the Egyptian Ministry of Petroleum & Mineral Resources – and China’s Sinopec Star Petroleum Company.
SinoTharwa is a limited liability company established under the Egyptian investment authority’s approved decree on November 11th, 2005. A free zone company, subject to investment law No. 8 for the year of 1997, started with US$ 18 million capital that were equally shared between both concerned parties.
In 2007, the company’s capital had been raised to US$ 40 million and the Egyptian Natural Gas Holding Company (E-gas) entered into the joint venture then by the end of 2008, it reached US$ 80 million and currently our investment is 586 million USD. We had successfully occupied one of the forefront market positions having 14 % of the Egyptian market.
SinoTharwa is essentially a service company, providing support to oil & gas exploration companies. We are able to provide a range of different capacities of drilling and work over oil & gas rigs. We operate from a 60,000 square meter yard in Badr city, which is located 35 km from the company’s main building in Cairo, where we have our main warehouse, drilling tools workshop, training center, pipe yard, rig-up yard and rotary equipment workshop.
SinoTharwa currently owns and operates 18 rigs; 13 land drilling rigs, 4 work over rigs and 1 Offshore rig for which 1428 professional employees had been hired and carefully selected. SinoTharwa is dealing with many different clients from international companies. We are committed to use the latest technology which led to the development of service companies and suppliers’ network which provide continuous information about the latest innovative products.
As a recently established company; there is a remarkable positive teamwork spirit pervading the whole operation that had been produced due to the collaboration between the whole company members; the company management and staff, who are exerting their best efforts for further growth and international future invasion.
During 6 years business journey, SinoTharwa has been very successful in operating, expanding and competing which led us to occupy the second largest drilling contractor position in Egypt and enable us to undertake the challenge of moving to the international market.