Minister: Iran dreamt about production of drilling rig

Oil&Gas Materials 18 February 2020 19:25 (UTC +04:00)
Minister: Iran dreamt about production of drilling rig

BAKU, Azerbaijan, Feb. 18

By Elnur Baghishov - Trend:

Iran dreamt about the production of a drilling rig for its oil industry, Iranian Oil Minister Bijan Zangeneh said.

Zangeneh made the remark at the event dedicated to the commissioning of the "Fath 72" drilling rig, Trend reports referring to Shana news website.

“Iran's oil sector needs drilling rigs and equipment,” the minister said. “The idea of mobile processing equipment appeared as a result of the production of this drilling rig.”

“The produced drilling rig may be used not only in Iran but also in the entire region,” the minister added. “The region will have oil for many years.”

The "Fath 72" drilling rig was produced by the Iranian Academic Center for Education, Culture and Research (ACECR) with a maximum capacity of 20,000 feet of drilling. The "Fath 71" drilling rig was commissioned in 2018.

The "Fath 73" drilling rig is expected to be commissioned in the second half of next Iranian year (beginning on September 22, 2020). The contract worth 33 million euros for the production of three drilling rigs was signed.

In general, there are 125 oil fields and 59 gas fields in Iran. Iran’s total hydrocarbon reserves are 836 billion barrels. With the technology equipment, it is possible to extract 239 billion barrels. Iran may use 29 percent of the reserves, while 71 percent remain underground.