NIDC Expanding Oil, Gas Drilling

EghtesadOnline: In line with policies to ram up oil and gas production, the National Iranian Drilling Company has completed drilling operations in 193 exploration, appraisal, repair and production oil and gas wells during the previous fiscal that ended on March 20, NIDC's planning manager said on Tuesday.

News ID: ۷۴۰۷۶۹

05 April 2017

"Of the total number of wells drilled, 50 were completed at least two years ahead of schedule," Naser Qolipour was quoted as saying by Shana. According to Qolipour, the company drilled close to 5,000 meters of onshore and offshore oil and gas wells during the first seven days of the current fiscal. Moreover, it completed the operation to drill the 88th developmental well in Parsi oilfield in Khuzestan Province in less than six months despite geological constraints.

"NIDC has 75 drilling rigs, 68 of which are being used in the joint oilfields, namely South Azadegan, 80 km west of Ahvaz in Khuzestan Province along the Iran-Iraq border, Azar in Ilam Province as well as South Pars, the world's largest gas field shared between Iran and Qatar in the Persian Gulf," he said, adding that five rigs are being overhauled by domestic engineers. Plans call for improving drilling in the South Azadegan Oilfield by increasing drilling hours.

"It has been decided to boost the pace of drilling to 10 meters an hour from five meters now," Qolipour said, adding that the NIDC also wants to cut drilling costs in the new wells.

“Reducing the drilling time as well as enhancing precision and safety are among NIDC's priorities,” Financial Tribune quoted him as saying.

NIDC is responsible for drilling rigs operated by the National Iranian South Oil Company, Petroleum Engineering and Development Company, Iranian Offshore Oil Company and Iranian Central Oil Fields Company.

Experts, including Mohammadreza Takaidi, NIDC's deputy CEO, say during the time of international sanctions, Iran was deprived of modern drilling technology. "But in the post-sanctions era it is crucial that we acquire advanced drilling equipment and expertise with the aim of cutting costs."

Pointing to the presence of his company in tenders in Iraq, Oman, Armenia and Kuwait, he said, "NIDC is negotiating with foreign companies for drilling projects in the region."