The National Iranian Drilling Company has allocated $23 million for upgrade drilling devices and equipment, a NIDC official said.
“Over 220 devices will be upgraded including fluid pumps, chart recorders and generators,” ISNA quoted Shahram Shamipour as saying.
Funds will help provide services to relevant companies and reduce technical malfunctions, Shamipour said.
“Thanks to the skills and technical knowhow of NIDC engineers and their peers from private firms several drilling devices and equipment were retooled and upgraded last year,” Shamipour said. In the past engineers and technicians had to be sent to other countries for training.
The NIDC, a subsidiary of National Iranian Oil Company, drilled 116 oil and gas wells the last year (March 2020-2021). With 75 drilling rigs, NIDC provides 90% of drilling services to domestic companies.
In the first month of the current calendar year (March 21-April 20), nine offshore and onshore oil and gas wells were drilled (total 6,721 meters) by the NIDC including development wells, appraisal wells, and exploratory wells. Currently 23 light duty, heavy duty and ultra-heavy duty land drilling rigs of the company are operating in the oil regions.
Founded in 1979, NIDC services include well logging, cementing and acidizing, drill stem test, well testing, training and development, and general services. It also provides engineering, programming, and industrial cleaning services to steam boilers, compressors suction and lube oil systems, water jackets, chillers, and heat exchangers, as well as industrial cleaning services to the oil and gas refineries.
NIDC has plans to help boost production at 28 oil and gas reservoirs including Balaroud, Bangestan Lali, Ramin, Sepehr, Siahamkan, Naftshahr, Gachsaran, Ahvaz and Maroon. It has drilled 4,866 onshore and offshore oil and gas wells in four decades.
The global oilfield equipment market is forecast to reach $144.4 billion by 2027, according to a new report by Reports and Data. Demand for oilfield equipment has been relatively high over the past decade attributed to increasing oil and gas extraction and activities in oilfields globally.
Rising gas consumption is a significant factor driving demand for shale gas. Also, technological advancement in horizontal drilling and hydraulic fracturing have enabled economic viability of shale gas production and accessibility to better and deeper shale gas deposits.
The Covid-19 pandemic has severely impacted the oilfield equipment industry, as well as other industries in the past year. The rapid spread of the virus has caused a drop in demand and henceforth, crude oil prices.
