7 May 2007 - 15:26
  • News Code: 104044
NIDC 2006 Contracts Worth €1.11bn

TEHRAN – The managing director of National Iranian Drilling Co. (NIDC) here Monday said his company’s contracts on offshore and onshore operations in the past Iranian calendar year (March 21, 2006 to March 20, 2007) were valued at 1.11 billion euros.

Heidar Bahmani made the statement in a news session and added the NIDC had managed to enter into contracts in intense international competitions.

“Foreign giants including Spain’s Repsol and domestic companies are also the signatories of the contracts,” said the NIDC chief.

“We drilled 172 wells and carried out their workover operations in the previous year, showing an over 30 percent rise when compared to the figure in its preceding year,” he boasted.

Bahmani said 10 thousand people are directly cooperating with the NIDC and more than 30 thousand people are indirectly working with the company, said the managing director, adding 600 private contractors were cooperating with the NIDC.

In its bid to make up for the shortages of the onshore drilling rigs, NIDC has conducted negotiations with China over the purchase of eight rigs.

Four of the drilling platforms are used for workover wells and are scheduled to be delivered to Iran within the next 18 months. The total price of the four units amounts to $56 million.

The company is planning to buy two offshore drilling rigs from the country, as well.




News Code 104044

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