National Iranian Drilling Company presents new equipment

Oil&Gas Materials 24 August 2020 10:15 (UTC +04:00)
National Iranian Drilling Company presents new equipment

BAKU, Azerbaijan, August 24

By Elnur Baghishov – Trend:

National Iranian Drilling Company (NIDC) spent more than 4 billion rials (about $95,200) on two pieces of equipment used for drilling of oil and gas wells, the project manager for the Kish gas field development project of the NIDC Mehran Mafrashi said at the presentation, Trend reports citing NIDC’s official portal.

Mafrashi said that equipment was produced at Pars Poolad Aghaei Company by experts of the National Iranian Drilling Company.

The company representative added that the equipment, produced domestically, is 60-70 percent cheaper in comparison to similar equipment produced abroad.

Mafrashi also noted that previously used equipment cost company more than $100,000 on each well with a total of 12 wells company would spend more than $1.2 million on drilling.

"It is estimated that the new equipment will reduce the costs of National Iranian Drilling Company's operations by one third and prevent the outflow of foreign currency from the country," he said.