NIDC Outlines Achievements, Targets

NIDC Outlines Achievements, Targets
NIDC Outlines Achievements, Targets

The National Iranian Drilling Company managed to accomplish more than 95% of its goals during the last Iranian year (ended March 19, 2016) and it is all set to enhance its efficiency in the current year by targeting short- and long-term goals.

“NIDC succeeded in drilling over 360,000 meters of oil and gas wells nationwide last year. The company handled the drilling of about 185 exploratory, developmental and repair wells,” Mohammad Reza Takaidi, acting director of NIDC, told ISNA.

Takaidi announced that four rigs were added to NIDC's drilling fleet last year for speeding up drilling projects to compensate for the drastic decline in oil prices.

Currently, the company's total number of rigs stands at 74, including 71 onshore and three offshore rigs.

Pointing to the company's commitment to raise health and safety standards, the official said effective measures have been taken to refurbish 12 rigs, 4 of which underwent full restoration last year and plans have been made to repair the rest as soon as possible with the help of Iranian experts.

On recruiting new staff, Takaidi said 450 employees attended training courses last September and the company will draw on their technical expertise.

He stressed that the company has indigenized 240 strategic drilling equipment in collaboration with domestic manufacturers and technicians.

The official believes that manufacturing good quality oil equipment compatible with international standards must continue in line with Resistance Economy, a concept proposed by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei to counter the sanctions, promote domestic growth and reduce oil dependency.

“Promoting cooperation with domestic manufacturers and knowledge-based institutions, especially in Khuzestan Province, tops our priority list, which can eventually create more jobs in the region and lead to economic prosperity,” he said.

"The government must increase its support for domestic companies. By offering loans and tax reliefs, the government can help manufacturers boost production."

According to Takaidi, the private sector, alongside the government, can partly cover the needs of the oil and drilling industries. He pointed to manufacturers in Khuzestan Province in southwest Iran as being "competent and successful" within the drilling equipment industry.

Commenting on financial constraints due to dramatic plunges in oil prices and revenues, Takaidi hoped that the historic nuclear deal signed between Iran and the world major powers could help remove liquidity problems so that the company can exploit its full potential.

Underscoring NIDC's active presence in joint oilfields, Takaidi added, "The company has played a pioneering role in carrying drilling operations in joint oilfields since two years ago to meet the oil industry's urgent need. More than 70% of drilling operations in the joint fields are carried out by NIDC."  

NIDC, founded in 1979 and operating as a subsidiary of National Iranian Oil Company, is currently conducting drilling operations for the National Iranian South Oil Company, Petroleum Engineering and Development Company, Iranian Offshore Oil Company and Iranian Central Oil Fields Company. It engages in the exploration, development and delineation drilling of oil and gas wells.

The company’s services include well logging, cementing and acidizing, drill stem test, well testing, training, development and general services.

According to Heidar Bahmani, managing director of the National Iranian Drilling Company, the company has not stopped any drilling project despite financial constraints and falling oil prices since March 2015.

"Currently, drilling operations are underway in 70 wells of joint fields," Bahmani said, noting that NIDC is operating at full capacity in offshore and onshore fields.

“Under the present conditions, the cost of providing a wide range of oil-related services is much lower in NIDC compared to those in foreign companies,” he said.