NIOC drills 185 oil and gas wells in Iranian onshore and offshore fields

Azerbaijan , Baku, March 29 / Trend, A.Yusifzade /

The National Iranian Drilling Company (NIDC), a subsidiary of the National Iranian Oil Company (NIOC), has succeeded to drill and complete 185 oil and gas wells in onshore and offshore fields of the country over the last Iranian year (ended March 20, 2011), ISNA reported quoting the NIDC Managing Director Haidar Bahmani as saying.

Bahmani said the number of drilled and completed wells increased by 50 wells compared with the similar period of the last year.

Bahmani said that of 185 oil and gas wells drilled during this period, 94 wells were developmental, five exploratory and 86 needed repairs.

Referring to ownership of 63 drilling rigs by the company, the official stated that the company drilled 354,000 meters of oil and gas wells in the land and deep waters of 10 provinces of the country last Iranian year, an increase of 20,000 meters compared with similar period of the last year.

According to the official, the company has offered engineering and technical services in 6,565 cases over the last Iranian year or up by 5 percent compared to the last year.

More than $200 million has been invested in updating equipments of the drilling sector over the past two years, Bahmani said earlier.

He said the company uses the latest know how in drilling in addition to using top drive, mud processing, directional, horizontal and under balanced drilling.

"Currently fifteen teams of NIDC experts are involved in offering directional and horizontal drilling services", Bahmani added.

Bahmani said now more than 4,000 Iranian experts in different technical and engineering divisions of the company are in charge of leading drilling operations.

Earlier Iranian Deputy Minister of Petroleum for Planning and Supervision on Hydrocarbon Resources, Mohsen Khojastemehr, said that 2,400 oil wells will be drilled over the Fifth Five Year Development Plan lasting by 2016.

Khojastemehr said about $150 billion would be invested in the upstream sector over the Fifth Five Year Development Plan, of which $40 billion would be allocated for well drilling.

NIDC, as a subsidiary of NIOC in the upstream sector, is in charge of 90 percent of drilling of oil and gas wells all over the county.

Iran is OPEC's second-largest oil producer. It ranks the second in terms of natural gas reserves after Russia in the world.

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