According to NIOC, CEO Hamid Bovard said Wednesday, at a ceremony in Ahvaz introducing the new head of NIDC, that the company plays a critical role in producing hydrocarbons. He added that the commitment and dedication of NIDC staff have consistently enabled managers to carry out plans and advance major oil industry projects.

Bovard noted efforts to remove NIDC from the privatization list, saying the move addressed employee concerns and created a foundation for advancing development programs.

Drilling fleet renewal underway

The deputy oil minister said initial steps to modernize the drilling fleet have begun, adding that the process must accelerate to boost the company’s operational capacity and shorten waiting times.

Bovard listed higher drilling efficiency, reduced downtime, development of specialized human resources and organizational streamlining as key expectations. He called for greater reliance on young managers, modern management methods, cost reductions and stronger engagement with NIOC subsidiaries.

He also highlighted the importance of using knowledge-based companies and universities to advance drilling technologies, supporting domestic manufacturing, adhering to HSE standards and meeting civil defense requirements. These measures, he said, will strengthen NIDC’s role in line with Iran’s “resistance economy” policies.

Bovard said management changes are natural and expressed confidence that Morteza Fouladi — with extensive experience at NIDC, National Iranian South Oilfields Co. and NIOC headquarters — will maintain the company’s upward trajectory.

He also thanked outgoing NIDC CEO Mehran Makvandi, noting his 35 years of technical and managerial experience as a valuable asset to the oil industry. Bovard said NIOC plans to put Makvandi’s expertise to effective use in other parts of the company.

Adopting modern technology essential

Fouladi, the newly appointed NIDC CEO, thanked NIOC’s leadership for its trust and said his experience across various segments of the oil industry and at the Petroleum University of Technology will support the company’s development agenda.

He said adopting modern technologies is essential, adding that whenever technology has been prioritized in operations, project timelines have improved and the company’s productivity has risen.

Rig waiting times reduced

Makvandi, the outgoing CEO, said that over the past year, with the support of employees, NIDC has reduced rig waiting times while advancing fleet refurbishment, productivity improvement and financial strengthening.

He also noted domestic and international negotiations to acquire modern drilling technologies and thanked NIOC’s CEO for his support.