Iran Owns Most Profitable Drilling Company in Middle-East

Managing Director of the North Drilling Company Hedayatollah Khademi said his company is the most profitable drilling firm in the Middle-East with a wide range of operations abroad.

“The NDC is the most profitable drilling company in the Middle-East and the average profit gained by the company during the last 3 years amounted to 43%,” Khademi told FNA on Saturday.

He said that different regional countries, including Iraq, Singapore, Kazakhstan and other Central Asian and Middle-Eastern states, have filed numerous orders at the company for implementing drilling projects in those countries, but the NDC can’t respond positively to all demands due to the wide range of its operations at home.

His remarks came after the National Iranian Drilling Company (NIDC) announced earlier this month that it has drilled 50 oil and gas wells since the beginning of current Iranian year (started on 20 March).

NIDC Managing Director Haidar Bahmani said that out of the total figure, 27 wells were developmental while the remainders were workover wells.

He said drilling operations were carried out in the areas covered by National Iranian South Oil Company (NISOC), Central Iranian Oil Fields Company (CIOFC) and other onshore and offshore projects.

Referring to naming current year as the Year of Supporting National Production, Supporting Iranian Labor and Capital, Bahmani said, “NIDC’s workforce trying to speed up implementation of projects by doubling efforts.”

According to Bahmani, during the previous days passing the beginning of the year, the number of drilled wells has raised by 10 in comparison to similar period last year.

“We are ahead of schedule in implementation of drilling projects and will try to keep the pace during the coming months of the year,” Bahmani said.