Iran Eyes Stronger Presence in Drilling Activities in Foreign States

Iran Eyes Stronger Presence in Drilling Activities in Foreign States

TEHRAN (Tasnim) – Iran is planning to take a more active role in drilling industry by entering the global markets, an official said.

Deputy Managing Director of the National Iranian Drilling Company (NIDC) Mohammad Reza Kaitodi, said the company has set ambitious business targets to compete with foreign companies for setting up drilling rigs out of Iran.

“Even though there are plenty of opportunities for drilling activities in domestic market, but entering the world’s competitive market is imperative for NIDC in view of boosting its position in world arena," he explained.

As regards the company’s new target in making overseas investment, Kaitodi was quoted by Shana as saying that the NIDC has recently entered into a contract with Iraq to offer technical services to the Arab country.

Describing the contract with Iraq as a “first step” to attract foreign customers, he added that the NIDC deems it necessary to stay in contact with other countries in order to exchange state-of-the-art technology and developed methods in the drilling industry.

Earlier on September 30, 2013, the National Iranian Drilling Company and its Iraqi equivalent signed an agreement, based on which Iran would provide personnel training and supervision of Iraqi drilling operations.

According to the agreement, the NIDC undertakes the training of the Iraqi Drilling Company’s personnel in the fields of drilling operations and electronic as well as fluid mechanics engineering.

“The drilling industry is one of the main pillars of producing oil and gas and plays a major role in discovering, developing and exploiting oil fields,” NIDC Managing Director Hamid Reza Golpayegani said at the time.

He had also announced that the NIDC has the capacity to provide services in the fields of drilling operations, technical and engineering services, theoretical and applied training for drilling oil and gas wells to all regional countries, particularly Iraq.

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