Iran to Start Drilling First Exploratory Well in Caspian Sea

Iran will start drilling its first exploratory well in the Caspian Sea by early October, North Drilling Company’s managing director said here on Sunday, according to MNA.

The Mehr News Agency quoted Hedayatollah Khademi as saying that, “Iran-Alborz semi-submersible drilling rig is now ready to drill the country’s first exploratory well in the region.”

Iran-Alborz semi-submersible drilling rig can operate at water depths up to 1,030 meters and drill down to 6,000 meters under the seabed.

The rig weighs 14,000 tons without its attachments and will facilitate exploration in deep waters in southern part of the Caspian Sea.

According to estimates, the southern part of the Caspian Sea holds at least 32 billion barrels of oil reserves.