UAE pays Iran drilling company bonus
Azerbaijan, Baku, March 4 /Trend, M. Moezzi/
The United Arab Emirates (UAE) has paid Iran's North Drilling Company (NDCO) a $1.2 million bonus for speeding up drilling operations in a Caspian Sea project, Pana news agency reports.
Dragon Oil, a UAE-owned company has a contract with NDCO to drill 30 oil wells in Turkmenistan's shallow waters, said Hedayatollah Khademi, the NDCO's managing director.
The UAE company has paid three $400,000 bonuses to the Iran-Khazar sea platform for being ahead of schedule, said Mr. Khademi.
The NDCO's contract has been renewed to 2013 by Dragon Oil.