August 2011, No. 61

Exclusive 16th International Oil Show

Managing director of National Iranian Drilling Company (NIDC), Heidar Bahmani, announced that a total of 190 oil and gas wells have been drilled in the current Iranian calendar year (started March 21, 2011), adding that by the end of the Fifth Economic Development Plan, a total of 2,500 wells will be drilled.

Speaking to reporters on the sidelines of the 16th International Oil, Gas and Petrochemicals Exhibition in Tehran, he added that National Iranian Drilling Company repaired 186 wells last year, up by 50 compared to 2009. During the same year, 13 rigs have been added to National Iranian Drilling Company's fleet and according to the existing plans, 10 more onshore and offshore rigs will be purchased in the first half of the current Iranian calendar year to increase total number of the company's rigs to 70.

Bahmani noted that NIDC has not been active in offshore projects in past years, adding, "The Company has signed contracts to drill a total of 3.5 billion dollars of offshore wells. The contracts pertained to phases 9, 10, 14, 17, and 18 of South Pars gas field."

The official referred to cooperation between NIDC and Exploration Department of National Iranian Oil Company, saying that 13 exploration wells are currently being drilled at Kish gas field using two drilling rigs.

Bahmani noted that according to the Fourth Economic Development Plan, 935 million dollars had been allocated to NIDC of which 400 million dollars has been spent thus far.

The official announced that financial turnover of NIDC stands at 1.3 billion dollars a year, noting that the figure proves inefficiency of international sanctions.

Bahmani said that 16,000 drilling parts are currently being manufactured inside the country.

"At present, two onshore rigs are being manufactured by Fajr Shiraz Co., two rigs by Sadra Co., one rig by Iman Taksaz Co., and seven rigs are being manufactured out of the country," he said.

The official added that the Iranian drilling industry has reached self-sufficiency by 90 percent and is doing its best to increase that figure to 100 percent.

Bahmani noted that NIDC is currently operating 65 rigs, including 62 onshore and 3 offshore rigs.

"National Iranian Drilling Company has signed a contract with some Asian countries to build an offshore rig worth 200 million dollars and 6 onshore rigs worth 150 million dollars," he added.

The official noted that there is no drilling technology in the world which has not been indigenized yet and NIDC is currently working with 12 creditable Iranian universities to uplift its technology.

Managing director of NIDC further stated that all littoral countries of the Persian Gulf have indicated their readiness to cooperate with NIDC and several rounds of talks have been already held with high-ranking Iraqi officials.