Energy
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Ban on Foreign Drilling Equipment

Ban on Foreign Drilling Equipment  Ban on Foreign Drilling Equipment

The National Iranian Oil Company (NIOC) has banned energy firms from buying or hiring foreign-made drilling rigs, IRNA reported. The ban was announced in a letter sent by NIOC managing director, Roknoddin Javadi, to the company's subsidiaries. Following the announcement, several domestic firms announced readiness to replace foreign companies in supplying the required drilling equipment for NIOC projects.

 

Financialtribune.com