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12/18/04

NIDC to drill 311,000 meters by March 2005

Ahvaz, Khuzestan prov, Dec 18, IRNA -- National Iranian Drilling Company has for the first ever set a drilling record of 311,000 meters as its target for the 2004-05 fiscal year, Managing Director of the company Seyfollah Jashnsaz said on Saturday.

Jashnsaz speaking to reporters on the anniversary of his company's establishment said that until the end of 'Aban', the eighth month in Iranian calendar, his company managed to drill more than 212,809 meters of appraisal and detailed wells.

He said that National Iranian Drilling Company (NIDC) had drilled 290,000 meters in the 2003-04 period, registering a 15 percent growth compared to that in the previous year.

He added that 98 percent of onshore drilling operations are carried out by his company and the Continental Shelf Co., Petro Iran Co. and South Pars Development Co. have made use of 13 rigs drilled by the NIDC in the Persian Gulf.

The official said the company is planning to purchase two offshore rigs for Dlrs 200 million.

Since its establishment 25 years ago, the NIDC has drilled or repaired 2,100 wells in Iran at a cost of about Dlrs three billion, concluded Jashnsaz.

... Payvand News - 12/18/04 ... --



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