Iran to buy new drilling rigs from UAE to operate in Turkmen waters

Iran Materials 21 May 2012 11:51 (UTC +04:00)

Azerbaijan, Baku, May 21/ Trend F.Milad/

Iran's North Drilling Company (NDC) plans to buy new drilling rigs to be operated in Turkmenistan's waters, NDC managing director Hedayatollah Khademi said.

He told the Fars News Agency that the rigs will be used both for onshore and offshore operation and their cost will be paid within a period of ten years.

Iran and the United Arab Emirates have agreed on extending the drilling operations in Turkmenistan's waters in the Caspian Sea, Khademi said in January.

He told the Mehr news agency that the Iran-Khazar Jack-up rig has been in operation in Turkmenistan's waters for five years, and that the NDC has extended the contract with the UAE contractor until 2013.

Iran earns some $145,000 per day from renting the Iran-Khazar rig to the UAE contractor, Khademi added.