Iran Drills New Wells in Three Months

Iran Drills New Wells in Three Months

The National Iranian Drilling Company (NIDC)’s Deputy Managing Director, Hamid Reza Khoshayand, said that NIDC drilled over 75 km of oil and gas wells using its drilling fleet during the first quarter of Iran’s current fiscal year, starting at March 20 till June 21, according to Trend News Egency.

The company carried out drilling of 42 offshore and onshore oil and gas wells during the period, Khoshayand said.The wells included 14 delineation wells one exploratory and 27 repairing ones, he added.

NIDC has drilled 44 onshore and offshore oil and gas wells since mid-March 2015, according Iran Daily.

Meanwhile, the National Iranian South Oil Fields Company (NISOC) shared 33 of the drilled wells, followed by Iranian Petroleum Engineering and Development Company in seven wells, and Iranian Offshore Oil Company in two wells, he said.

NIDC’s deputy head for drilling operations, Mehran Makvandi,said, “Of this figure, 27 wells were located in the operational territory of National Iranian South Oil Company, four pertained to Iranian Central Oilfields Company, four were located in areas covered by Iranian Offshore Oil Company, two were related to the National Iranian Oil Company’s Exploration Directorate and seven were drilled in the framework of a production project.”

In related News, Italian Eni signed an agreement with Iran on June 20 for feasibility studies to develop an oil field and a gas field, signaling a possible return to Iran’s upstream sector. According to the agreement Eni has six months to present the results of its studies.

Mahinaz El-Baz 312 Posts

Mahinaz El Baz received her MSc degree in Foreign Trade Economics from Helwan University in 2016. She has two years of experience in journalism and four years of experiance in economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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