BAKU, Azerbaijan, April 28
By Elnur Baghishov - Trend:
The National Iranian Drilling Company (NIDC) produced 437 drilling equipment last Iranian year (March 21, 2019 - March 20, 2020), said Director of Research, Technology and Engineering Department at Iran’s National Drilling Company (NIDC) Mehdi Arshian, Trend reports citing official website of the company.
According to Arshian, with the production of this equipment Iran managed to save some 450 billion rials (about $10.7 million) in terms of import substitution.
The official said that the company will increase production of equipment in the current Iranian year (started March 20, 2020) with the help of 230 domestic manufacturers.
Arshian said that as a result of the company's cooperation with large industrial facilities and startup companies, 7 heavy drilling rigs were produced on land and more than 150 oil and gas wells have been drilled.
Iran's National Drilling Company drilled and improved 15 oil and gas wells in one month (March 20-April 19). A total of 8,850 meters were drilled.
Iran has 125 oil fields and 59 gas fields. The country's total hydrocarbon reserves are estimated at 836 billion barrels.
With available technology and equipment, Iran can extract 239 billion barrels. Thus, 29 percent of the country hydrocarbon reserves are recoverable, while 71 percent remain underground.