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In July 2012, EDC acquired two onshore drilling rigs in northern Iraq, adding 2 more by the end of 2012. After maintenance on 2 rigs in Q4, all rigs will be under contract with international customers in the Kurdistan region. 

EDC will continue to explore international expansion opportunities and the current strategy is to focus on onshore drilling services in the MENA region. EDC's key criteria for potential inorganic growth opportunities is that acquisition should be immediately EBITDA and net income accretive and that acquisition targets should deliver unlevered, after-tax internal rates of return in the high teens.

RIG 22 - 1000hp, Hook: 250 ton RIG 23 - 1500hp Hook 340 ton, SCR drive
RIG 22 - 1000hp, Hook: 250 ton RIG 23 - 1500hp Hook 340 ton, SCR drive
Rig 22 Specifications Rig 23 Specifications
   
RIG 24 - 1500hp, Hook: 340 ton, SCR drive RIG 25 - 1500hp, Hook: 340 ton AC drive
RIG 24 - 1500hp, Hook: 340 ton, SCR drive RIG 25 - 1500hp, Hook: 340 ton AC drive
Rig 24 Specifications Rig 25 Specifications
   
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