Iran drills 96 kilometers of oil, gas wells in 3 months

Business Materials 22 June 2015 15:09 (UTC +04:00)

Baku, Azerbaijan, June 22

By Umid Niayesh - Trend:

National Iranian Drilling Company (NIDC) has drilled about 95, 600 meters of oil and gas wells by its drilling fleet during the first three months of current Iranian fiscal year (March 21, June 21).

The company has completed drilling operations of 44 offshore and onshore oil and gas wells in the period, ten more year on year, Deputy Director of the NIDC Mehran Makvandi said, the oil ministry's official SHANA news agency reported June 22.

The company's drilling fleet currently includes 73 rigs, the official added.

The drilling includes 23 development operations, two exploration drilling and 19 repair operations, Makvandi said.

The National Iranian South Oilfields Company shared 27 of the drilled wells, followed by Iranian Central Oilfields Company (four wells) and Iranian Offshore Oil Company (four wells), Makvandi said.

He further said that the NIDC has drilled six wells for Petroleum Engineering and Development Company and two wells for National Iranian Oil Company's Exploration Directorate as well as seven wells having been drilled under contracts.

By holding 157.8 billion barrels of recoverable crude oil reserves, Iran possesses the world's fourth largest reserves of crude oil.

The Islamic Republic also holds 34 trillion cubic meters of proven gas reserves, sharing 18.2 percent of total global gas reserves, which puts the country in the top of the world's gas holders list.

Iran's current oil production is estimated to be around 2.8 million barrels per day of which about one million barrels are exported.

Edited by CN

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