Egyptian Chinese Drilling JV

Cairo 25 Aug 2004 -- Sinopec of China and Tharwa Petroleum Company of Egypt will jointly establish a new drilling company “SinoTharwa “ to operate in the field of drilling and well repair inside and outside Egypt.

SinoTharwa will start its activities with two drilling rigs due to the increasing demand on the drilling equipment and exploration activities in Egypt.

Meanwhile a delegate from China Huanqiu Contracting & Engineering Corp. (HQCEC) is visiting Egypt to discuss the cooperation between Egypt and China in the filed of petrochemicals industries. Also Egypt is studying a proposal from Chinese company to establish a pump factory in Egypt.

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