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NIDC to invest $2B in Persian Gulf projects

TEHRAN, Dec. 21 (Mehr News Agency) - National Iranian Drilling Company plans to implement $2 billion worth of projects in the Persian Gulf, the NIDC managing director said here on Sunday.

"Completing these projects with foreign contractors would cost four to six billion dollars," Heydar Bahmani explained.

"NIDC has achieved considerable progress in offshore drilling during the past two years," he added, PIN reported.

"In addition to drilling the gas wells of phases 9 and 10 of the South Pars oil field, NIDC has also won the international tender for drilling phases 17 and 18 of the oil field's wells," he pointed out while adding that the drilling contract for phases 17 and 18 of the oil field is worth $1.4 million.

"NIDC has also been active in international projects such as engineering, designing and drilling two wells within Scotland's North Sea borders and drilling oil wells in Libya and Turkmenistan," the official said.

... Payvand News - 12/21/08 ... --

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