The contract for the services of one offshore drilling rig was signed Saturday. It will be used to drill offshore exploration wells under a public-private partnership, with the aim of reviving exploratory drilling in the Persian Gulf and strengthening the operational capacity of NIOC's Exploration Directorate. The signing was attended by Amir Moqiseh, NIOC's Director for Investment and Business Development; Seyed Mohiuddin Jafari, Director of Exploration; and representatives of the contractor and the investor.

The contract makes it possible to assign an offshore rig to exploration operations, allowing the Exploration Directorate to resume offshore drilling after a seven-year hiatus.

Private-sector participation strengthens the country's exploratory drilling capacity

At the ceremony, Moqiseh cited the Exploration Director's efforts and the NIOC Board's support for securing an offshore rig. He said the contract is one of the important agreements for supplying rigs and strengthening the Exploration Directorate's operational capacity.

Referring to the changes in the Exploration Directorate under the 14th administration, he said that drawing on specialist personnel and the scientific and technical capabilities of its experts, together with a transformative approach, lays the groundwork for advancing exploration programs and raises hopes of discovering new hydrocarbon reserves.

Moqiseh described drilling rigs as a key indicator of upstream oil industry development. He said that as development and exploration activities expand, the country's need for drilling equipment and rigs also grows, and that supplying this equipment through a partnership between NIOC and the private sector is important.

Noting that more than 18 drilling rigs have been added to the country's fleet in recent years, he said the new rig will be the eighth offshore drilling rig in the fleet.

He added that, for the first time in years, an offshore rig will be placed specifically at the disposal of the Exploration Directorate, which could strengthen its capacity to carry out offshore exploration operations.

Stressing the importance of identifying new hydrocarbon fields, particularly in shared fields and regions, he said expanding exploration and discovering new reserves is important for safeguarding national interests.

Moqiseh also thanked the Exploration Director and his team for their efforts to secure the rig. He added that private-sector cooperation, and channeling human and financial resources toward projects with national benefits, can help strengthen the oil industry's operational capacity.

Offshore rig to be placed at the Exploration Directorate's disposal

Mohyeddin Jafari, NIOC's Director of Exploration, pointed to the existing constraints on offshore exploratory drilling. He said that over the past seven years, because it had no rig of its own, the Exploration Directorate has carried out no independent offshore exploratory drilling in the Persian Gulf, and that such work has been done using the capacity of development companies.

He said that, with the support of NIOC and the participation of the private sector, the groundwork has been laid for supplying an offshore rig to the Exploration Directorate, and that the contract is an important step toward strengthening the capacity to carry out exploration operations in the Persian Gulf.

Jafari thanked the NIOC Board for its support, in particular Farrokh Alikhani, who is in charge of NIOC's day-to-day affairs, and Amir Moqiseh. He said that supplying an offshore rig was among the important approvals that received attention through the personal support and follow-up of Hamid Bovard, then NIOC's managing director, during his tenure as caretaker oil minister.

He added that continued efforts to transfer and supply the rig made the signing of this contract possible, and that managers, experts and everyone involved in reviewing, approving and finalizing the contract played a part.

Describing the nature of offshore exploratory drilling, he said it is among the oil industry's specialized activities, involving technical complexity and high risk. Carrying it out, he said, requires the private sector's capabilities, close supervision, and coordination across technical, financial and contractual areas.

Joint working group to be formed to ensure precise fulfillment of contractual obligations

Referring to the plans made for implementing the contract, the Exploration Director said a joint working group will be formed between the Exploration Directorate and the contractor to speed up the fulfillment of obligations, so that implementation proceeds with coordination and continuous follow-up.

Jafari stressed that planning, supervision and interaction among the contracting parties are essential for the timely fulfillment of obligations and the achievement of the projected goals, and that the Exploration Directorate will follow up on these matters throughout the contract's implementation.