Middle East Economic Survey

VOL. L

No 1-2

1/8-Jan-2007

EGYPT

Chinese Firm, Egyptian Companies Form Joint Venture For Rig Construction

Chinas Xinhua news agency on 27 December said Sichuan-based Honghuang Oil Equipment Company had formed a $30mn joint venture with three Egyptian firms to manufacture onshore oil and gas drilling rigs in Egypt. The Egyptian partners are Enppi, Tharwa Petroleum and Petroleum Projects and Technical Consultations. The partners are to each hold 25%. A construction...