ISOICO to build 1st Iranian-made jack-up drilling rig

January 24, 2021 - 14:42

TEHRAN - Iran Shipbuilding and Offshore Industries Complex (ISOICO) has signed a memorandum of understanding (MOU) with North Drilling Company (NDCO) for the construction of the country’s first locally-made jack-up offshore drilling rig.

The MOU was signed by the ISOICO Head Hamidreza Rezaei and the NDCO Managing Director Masoud Eydi on the sidelines of the 25th edition of Iran International Oil, Gas, Refining, and Petrochemical Exhibition (Iran Oil Show).

Based on the MOU, the two sides will cooperate in designing and constructing the mentioned drilling rig which will be used for the development of oil and gas fields in shallow waters of the Persian Gulf.

NDCO had previously awarded the overhaul project of the Sahar 2 offshore drilling rig to ISOICO.

Since the re-imposition of the U.S. sanctions on the Iranian oil industry, the country has been taking serious measures for cutting reliance on foreign sources for meeting its technological needs.

Designing and constructing drilling rigs has been one of the major achievements of the country’s oil industry in this regard.

Back in February 2020, Iranian Oil Minister Bijan Namdar Zanganeh unveiled a domestically-built drilling rig in a ceremony held in Khuzestan province, southwestern Iran.

The drilling rig, called Fat’h-72 was completely designed and constructed by experts from the province’s Academic Center for Education, Culture, and Research (ACECR) in Ahvaz, the capital city of Khuzestan.

ACECR has signed a €33-million deal with the National Iranian Oil Company (NIOC) for the construction of three drilling rigs, one of which was Fat’h-72.

Located on the costs of the Persian Gulf, Iran Shipbuilding and Offshore Industries Complex Company is an Iranian shipyard, active as a shipbuilder and ship-repairer of different types of vessels and offshore structures.

ISOICO is a subsidiary of the Industrial Development and Renovation Organization of Iran (IDRO).


Photo: ISOICO Head Hamidreza Rezaei (R) and NDCO Managing Director Masoud Eydi exchange signed MOU documents.