Companies Investing in Drilling Services

One of the key areas for upstream oil industry development is drilling. For this reason, NIOC has signed contracts with six companies to supply heavy-duty land drilling rigs with 2,000 horsepower capacity for a period of five years. The total value of these contracts is $768 million and 28 trillion rials.

The investing companies are: PetroIran for supplying four drilling rigs; North Drilling Company for four rigs; Oxin Petroleum Middle East for four rigs; AJA Economic Resilience Organization for two rigs; Paydar Energy Kazeroun for four rigs; and Global Petrotech Kish for two rigs. These companies will supply the rigs from abroad within six months under the public-private partnership model.

Companies Investing in Crude Processing Services

Additionally, NIOC has initiated a project to increase crude oil processing capacity by 315,000 barrels per day. This will be done through private-sector investments in building and operating processing plants under a Build-Own-Operate (BOO) model. With the implementation of these contracts, NIOC will receive 315,000 barrels of crude oil per day that requires processing facilities. This aligns with the objectives of Iran's production and maintenance targets in upstream laws.

The investing companies in this sector are: Tasha Machinery for processing crude oil from the Mansouri (Bangestan) field; Pars Petro Zagros for the Abtimor field; Oxin Petroleum Middle East for the Ramshir field; Axon Group for the Koranj field; Cheghalesh for the Golkhari field; and Tana Energy for the Mansourabad field. The total value of the contracts signed between these companies and NIOC is $1.671 billion.

By signing these contracts under the public-private partnership model, NIOC aims to achieve its quantitative goals in the Seventh Development Plan and increase crude oil production capacity to 4.8 million barrels per day, with natural gas production reaching 1.34 billion cubic meters, as well as an 8% growth rate.