Iran's North Drilling Company received a $1.5 million award from its UAE contractor for setting a record in drilling ten oil wells compatible with international safety standards in the Caspian Sea, managing director of the company told Mehr News Agency on Monday.
Referring to operations of the Iranian oil rig in Turkmenistan waters, Hedayatolah Khademi said, "The offshore rig, which has been operating under the supervision of the UAE's Dragon Oil plc, has succeeded to drill ten wells in one year. The project is deemed to be among the fastest ever drilling projects in the Middle East since the eastern flank of the Caspian Sea is among the difficult regions when it comes to oil drilling operations."
Expressing amazement at the achievement, Dragon Oil said the accomplishment was "beyond imagination" the director reiterated, adding that the offshore rig Sahar 1 had in the past played a key role in drilling sour gas wells in the Iran's gas-rich South Pars region.
According to the official, the modern oil rig will resume operations after a short break to help carry out development projects in the South Pars Phase 13. Sahar 1, once a rental rig, is the first Iranian-owned offshore rig which was added to the drilling fleet after three decades.
NDC was established in March 1999 and started its operational activities as a subsidiary of the National Iranian Oil Company in early 2003. It launched its first international project in Turkmenistan in May 2005. Over the past years, the NDC has become one of the largest drilling companies in Southwest Asia.
Dragon Oil plc is an international oil and gas exploration, development and production company which has exploration blocks in Tunisia, Iraq, Algeria, Afghanistan, Egypt and the Philippines. The corporate headquarter is located in Dubai, UAE.
South Pars is Iran's largest gas field. It is a portion of a larger gas structure that straddles the territorial water borders of Iran and Qatar. The field is estimated to hold 17 billion barrels of condensate in place.
North Drilling Company specializes in drilling oil and gas wells in the Persian Gulf, Caspian Sea, Turkmenistan, and the Iranian provinces of Khuzestan, Ilam and Bushehr.
