Mehran Makvandi, speaking ahead of the event to be held from May 8–11 at Tehran Permanent International Fairground, said the event is the country’s largest specialized oil and gas gathering, with significant international standing.

Highlighting strong participation from new technology-based firms (NTBFs) as well as leading domestic and international firms, he added that the exhibition is a valuable opportunity to showcase Iran’s industrial and commercial capabilities, unveil new products, and attract experts and investors for oil industry projects and the export of goods and technical expertise.

The CEO noted that direct engagement with producers, consumers, and suppliers is a key feature of the exhibition, adding that drilling technology and the introduction of strategic upstream machinery and equipment are among this year’s main focuses.

Focus on drilling fleet modernization, maximizing domestic capabilities 

Makvandi emphasized that the NIDC is the country’s largest industrial entity in drilling operations, providing over 25 specialized services for onshore and offshore oil and gas well drilling, completion, and repair. It maintains ongoing collaborations with more than 200 domestic manufacturers and NTBFs.

He added that in recent years, a significant portion of the company’s high-demand equipment and parts have been sourced domestically.

Referring to plans for modernizing the drilling fleet, Makvandi said that, in line with directives from the Ministry of Petroleum and the National Iranian Oil Company, $800 million has been allocated for refurbishment, reconstruction, and the purchase of drilling rigs and specialized technical equipment. An additional $200 million from the company’s internal resources will also be dedicated to this effort.

Noting a 12% reduction in operational downtime in 2024, Makvandi said further improvements in productivity and efficiency are expected this year through major overhauls and equipment upgrades.

Among last year’s achievements, he cited the drilling and completion of 100 oil and gas wells and the delivery of over 6,264 specialized technical services. Training remains a priority, with more than 330,000 person-hours of instruction provided across 1,000 specialized courses.

The CEO added that the National Drilling Company is prepared to offer specialized training services to domestic and regional firms while taking concrete steps toward exporting technical and engineering services.