Tehran, Iran, June 30
By Temkin Jafarov, Mehdi Sepahvand - Trend:
The Iranian North Drilling Co. was the only drilling company in the country to make profit during the last Iranian fiscal year (which ended March 20).
The company's net profit was about 2,200 billion Rials (about $75 million), Hedayatollah Khademi, CEO of the North Drilling Co. told Trend June 30.
"The company made that despite all the problems. Our revenue was about 8,900 billion rials, 35 percent of which was gross profit, that is 3,200 billion Rials," he added.
The company is not only a drilling company, but also a maritime company, with floating rigs, logistics and supply vessels, fueling systems, ROV (Remotely Operated Vehicle) systems, etc., he said.
Asked about the major investments his company has put into work, Khademi said that the company has bought three offshore drilling rigs as well as nine land drilling rigs, plus a number of cementing pumps.
The company also manages the navigation of Caspian I and Caspian II Anchor handling tug supply vessels which belong to the National Iranian Oil Company.
The company's land drilling rigs are 2000 horsepower. The offshore rigs are 3000 horsepower. Two of the jack ups are 300 ft. and another one which is in Turkmenistan used to be 300 ft. but 25 feet were added to it after overhaul.
The company has a number of bases across Iran, the biggest one is in north of Iran in Behshahr and there are others in Kish Island, Ahwaz, and Shiraz.
Khademi went on to say that his company was the first upstream company to enter the stock exchange of Iran.
North Drilling Company is the only and the biggest private oil and gas drilling company in Iran which has been successful to import drilling jack ups in Iran during the last thirty years.
According to the officials, although the company was initially intended for drilling operations in northern oil and gas reservoir of Iran, due to the large volume of investment, it has extended its area of activity from the Caspian Sea(Iran and Turkmenistan) to the drilling inside of Iran and then to the Persian Gulf.
Mr. khademi further noted that the company is the only one among OPEC members to carry out deep-water drilling at depths of over 750 meters in Caspian sea.
Edited by CN