Drilling operations in Iran drop almost in half

Business Materials 23 April 2018 11:42 (UTC +04:00)

Baku, Azerbaijan, April 23

By Gazenfer Hamidov – Trend:

Drilling operations in Iran has decreased significantly during the current fiscal year, which started March 20, 2018.

The National Iranian Drilling Company (NIDC) has drilled over 17,298 meters of oil and gas wells using its drilling fleet during the last Iranian calendar month (March 20-April 20), according to Hamid Reza Khoshayand, deputy managing director of NIDC.

The state-run company’s drilling operation has witnessed a fall by 47 percent compared to the same month of the preceding year.

The company carried out drilling of 12 offshore oil and gas wells during the 1-month period, Khoshayand said, the press office of the NIDC reported April 23.

The wells included seven development and delineation wells as well as five repairing ones, Khoshayand said.

The National Iranian South Oil Fields Company (NISOC) shared eight of the drilled wells, followed by Iranian Petroleum Engineering and Development Company (four wells), he added.

The NIDC owns 73 drilling rigs including 70 light, heavy and ultra-heavy onshore and three offshore rigs, he said, adding that the company has also leased a drilling rig.

The company has not published its drilling performance in last fiscal year (ended March 2018), but it carried out drilling of 193 offshore and onshore oil and gas wells (293 kilometers) during the preceding Iranian fiscal year (ended March 20, 2017).