Ahmad Rashad Muhamad Rashad signed contract to acquire additional 60% stake in National Drilling Company from Safat Energy Holding Company K.P.S.C. from Safat Energy Holding Company K.P.S.C. (KWSE:SENERGY), Eastern National Oilfield Services Company K.s.c. and Senergy Services Company K.S.C. for KWD 3.4 million ($10.97 million) in September 2016. As of February 19, 2017, Safat Energy Holding approved request for reduction of deal value by $1.1 million and contract was signed for the purchase of shares for $10 million at $8.335 per share. The deal is now subject to approval from Egyptian Financial Supervisory Authority. As of June 1, 2017, Egyptian Financial Supervisory Authority agreed to exclude Ahmed Rashad Mohamed from offering the obligatory tender offer to purchase 1.2 million shares, representing 60% of National Drilling.

Ahmad Rashad Muhamad Rashad completed the acquisition of 60% stake in National Drilling Company from Safat Energy Holding Company K.P.S.C. from Safat Energy Holding Company K.P.S.C. (KWSE:SENERGY), Eastern National Oilfield Services Company K.s.c. and Senergy Services Company K.S.C. on July 19, 2017. Ahmad Rashad Muhamad Rashad now holds 99% stake in National Drilling Company.