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News number: 9107120380

11:04 | 2012-11-19

Economy

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Iran to Drill 12 New Exploration Wells in Persian Gulf

TEHRAN (FNA)- Iran is due to drill 12 new oil and gas exploration wells in the Persian Gulf within the next three years, an Iranian oil official announced.



Managing Director of the National Iranian Offshore Oil Company (NIOOC) Mahmoud Zirakchianzadeh said Iran's Oil Ministry has signed the biggest contract for drilling wells in the country's joint oil and gas fields in the Persian Gulf with a domestic company which includes drilling 12 exploration wells in the Persian Gulf within the next 36 months.

The contract valued at about 500 million euros was signed between the NIOOC, a subsidiary of the Oil Ministry, and Petroiran Development Company during an official ceremony on Sunday.

The National Iranian Drilling Company (NIDC) announced in July that it has managed to drill 146,745 meters of oil and gas wells during the first four months of the current Iranian year (started 20 March 2012).

NIDC Chief Haidar Bahmani said that 16,676 meters of the total drilling operations done by his company pertained to key projects.

According to Bahmani, the company is engaged in drilling operations in the South Pars Gas Field phases 14, 17 and 18 plus drilling 13 oil wells in the onshore sector of the Kish gas field as well as Azadegan, Yadavaran and Yaran oil fields South of the country.

Elaborating on the number of the wells his company has drilled during the aforesaid period, he explained that NIDC drilled 61 wells, including 38 developmental wells and 29 workover wells, 13 wells more in comparison to similar period last year.