Sinotharwa Drilling Company - Kuwait Branch

SinoTharwa is a high level cooperative project that took place between China and Egypt forming SinoTharwa Drilling Company as a petroleum services company. The company was established in September 2005 as a joint venture between Tharwa Petroleum Company and Chinese Sinopec Star Petroleum Company, a limited liability company that started with US$ 18 million capital divided equally. In 2007, the company capital was raised to US$ 40 million and the Egyptian Natural Gas Holding Company (EGAS) Contributed into the joint venture. By the end of 2008, the company capital reached US$ 80 million distributed among Tharwa 30.6%, EGAS 19.4% and Sinopec Star 50%. SinoTharwa is essentially a service company, providing support to oil & gas exploration companies, providing a range of different capacities of drilling and work over oil & gas rigs. In a short period from its establishment, SinoTharwa practiced a continuous grow and delivered strong service be one of the leading drilling companies in ...