Iran’s oil company plans fivefold increase in exploration drilling rigs
Date
5/12/2024 9:31:51 AM
(MENAFN) The Director of Exploration at the National Iranian Oil Company (NIOC) announced on Friday a significant expansion in exploration drilling activities, revealing plans to increase the number of exploration drilling rigs by fivefold. Mehdi Fakour disclosed that when the current government assumed office in 2021, the NIOC had only two exploration drilling rigs, a figure set to rise to 10, as reported by Shana.
Highlighting the achievements under the 13th Administration, Fakour proudly declared the discovery of nine oil and gas fields during their tenure. Speaking at the 28th Iran International Oil, Gas, Refining, and Petrochemical Exhibition (Iran Oil Show 2024), Fakour emphasized the remarkable growth witnessed in various exploration activities over the past 2.5 years. He noted staggering increases of 400 percent, 300 percent, 189 percent, and 127 percent in 2D seismography, 3D seismography, magnetometry, and 3D seismic processing, respectively, compared to the preceding four years.
Fakour also provided insights into the exploration success rates worldwide, revealing that Iran boasts an unparalleled success rate of 100 percent, far surpassing other countries such as Iraq, Oman, the United Arab Emirates, and Qatar. He attributed this remarkable success to the extensive exploration efforts across Iran, which now span 19 provinces, covering 60 percent of the country's area and providing employment opportunities for over 5,000 individuals.
Furthermore, Fakour outlined ongoing and upcoming exploration initiatives, stating that Iran is currently engaged in eight exploration projects, with plans to drill in 28 new exploration sites in the near future. These ambitious endeavors underscore Iran's commitment to harnessing its vast natural resources and advancing its position in the global energy landscape.
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