Iran's NIDC Releases 5-Month Report

EghtesadOnline: The National Iranian Drilling Company has drilled and repaired 51 onshore and offshore oil and gas wells since the beginning of the current fiscal in March, the company’s deputy managing director for drilling affairs said.

News ID: ۷۴۸۰۴۱

31 July 2019

"With the help of 3 offshore and 69 onshore rigs, NIDC, a subsidiary of the National Iranian Oil Company, has drilled 51,000 meters of oil and gas wells nationwide," Mohammad Ale-Khamis was quoted as saying by ISNA.

Of the total, 27 were development and exploratory wells and 24 underwent repairs.

"The wells were drilled in oilfields managed by the National Iranian South Oil Company, the Iranian Offshore Oil Company and the Petroleum Engineering and Development Company in the West Karoun oil block that includes several large oilfields straddling the Iran-Iraq border, namely Yaran, Yadavaran and Darkhoein," Financial Tribune quoted him as saying.

NIDC undertakes both offshore and onshore drilling and provides almost the entire drilling services needed by domestic oil and gas companies.

According to Seyyed Saleh Hendi, head of the National Iranian Oil Company's Exploration Department, there are 184 hydrocarbon fields in Iran, consisting of 380 reserves, of which 171 are being developed and 209 have not been tapped.

"In-place crude and gas condensates reserves are estimated at 228 billion barrels, most of which were discovered in the last four decades," Hendi said.

Proven gas reserves are close to 33 trillion cubic meters, making Iran home to one of the world’s biggest natural gas reserves.