NIDC taking on a more significant role in oil industry

April 15, 2020 - 15:26

TEHRAN – Managing director of National Iranian Drilling Company (NIDC) says his company is ready to play a more significant role in the development of the country’s oil industry in the current Iranian calendar year (started on March 20), Shana reported.

Outlining the company’s plans for the current year, Abdollah Mousavi underlined NIDC’s strategic position as a major subsidiary of the National Iranian Oil Company (NIOC), saying: "One of the highlights of our executive programs for this year is going to be the participation in the drilling operations of National Iranian South Oil Company (NISOC)’s 28-reservoir program.”

NISOC is conducting new development projects in southern Iran under the framework of a program for maintaining and enhancing oil production in 28 reserves in the mentioned region.

According to Mousavi, NIDC has already started negotiations with some of the contractors that had won the NISOC tenders and some agreements and memorandums of understanding have also been signed for future cooperation.

NIDC will supply the mentioned contractors drilling equipment and services, he said, adding that “In this regard, 19 heavy dry drilling rigs from the company's fleet will be based in operational sites in the current year.”

Holding 70 onshore and offshore drilling rigs as well as equipment and facilities for offering integrated technical and engineering services, the company accounts for a major part of drilling exploration as well as appraisal/development wells in the country.

As previously announced, NIDC has dug over 240 oil and gas wells across the country in the past two years.

EF/MA

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