Iran's drilling company invests $220 mln in localization
Azerbaijan, Baku, April 19/Trend M. Moezzi
About 17,000 parts needed by the drilling industry are built domestically and that number will reach 20,000 this year, National Iranian Drilling Company (NIDC) Managing Director Heidar Bahmani said.
The NIDC has invested about $220 million on localization and technology transfer. The result is that most goods and parts needed for drilling are produce domestically.
Last year, the drilling of 24 wells was completed for Iran's joint South Pars oil and gas field's phases 9 and 10, and another 24 wells will be finished for phases 17 and 18 by the end of this year (Iran's solar year ended on March 19).
The NIDC head predicted 500,000 meters will be drilled by the company this year, up from the 458,000 meters of excavation it performed last year.