Egyptian General Petroleum completed the acquisition of a minority stake in Egyptian Drilling Company from AP Moller – Maersk for $100.

Egyptian General Petroleum, a company specializing in overseeing the exploration, production refining, marketing and distribution of oil and gas within Egypt, completed the acquisition of a minority stake in Egyptian Drilling Company, a drilling operator in the Middle East, from AP Moller – Maersk, an integrated transport and logistics company, for $100. The divestment of Egyptian Drilling Company is in line with Maersk Drilling's strategy to focus on offshore drilling in harsh environments and deepwater markets.