Iran drills 30 oil-gas wells within 2 months

Business Materials 25 May 2016 12:49 (UTC +04:00)

Baku, Azerbaijan, May 25

By Fatih Karimov - Trend:

National Iranian Drilling Company (NIDC) has drilled about 53,669 meters of oil and gas wells by its drilling fleet during the 2-month period from March 20, Hamid Reza Khoshayand, deputy managing director of NIDC, said.

The company has completed drilling operations of 30 offshore and onshore oil and gas wells during the mentioned period, Khoshayand said, SHANA news agency reported May 25.

The wells included 15 delineation wells and 15 developmental ones, he said.

The National Iranian South Oilfields Company (NISOC) shared 17 of the drilled wells, followed by Iranian Petroleum Engineering and Development Company (9 wells), and Iranian Offshore Oil Company (2 wells), he said, adding two wells also were drilled under contracts.

The drilling includes 17,263 meters of turnkey projects (a type of project that is constructed so that it could be sold to any buyer as a completed product), Khoshayand said.

Some 75 drilling rigs of the NIDC were used in operations during the two-month period, he added.

Currently, NIDC owns 75 light, heavy and ultra-heavy onshore and offshore drilling rigs which are operational under the supervision of National Iranian South Oil Company, Iranian Offshore Oil Company, Petroleum Engineering and Development Company, and Pars Oil and Gas Company.

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.