NIOC provides USD800 million for modernization of drilling equipment
Date
11/10/2024 4:23:33 AM
(MENAFN) The head of the National Iranian Oil Company (NIOC) has announced the allocation of USD800 million to the National Iranian drilling Company (NIDC) for the modernization of its drilling equipment, as reported by Shana. Hamid Bovard, during the inauguration of NIDC’s new head on Thursday, emphasized the importance of improving productivity and restructuring the company. He highlighted that maintaining work discipline and focusing on efficiency should be top priorities at NIDC. He also noted that the company's diverse rigs and equipment could significantly contribute to the nation’s revenue generation.
The NIDC, a subsidiary of the National Iranian Oil Company, was founded in 1979 and is based in Ahwaz, in southwestern Iran. The company is responsible for the exploration, development, and drilling of oil and gas wells. It owns and operates drilling rigs and other necessary equipment to provide drilling services across various oil fields in the country. Bovard pointed out that discipline in the operations of these rigs is crucial to maximizing the company’s potential.
In a key development, Bovard appointed Mehran Makvandi as the new managing director of NIDC, replacing Hamidreza Golpayegani. Makvandi had previously served as the company’s director of operations, engineering, and technical services. His appointment comes as part of a broader effort to improve the operational efficiency of the company and boost its productivity in the drilling sector.
Furthermore, on November 1, Mohammad-Ali Beygzadeh, the director of research, technology, and construction engineering at NIDC, revealed that the company has successfully indigenized the manufacturing knowledge for 610 drilling equipment items in partnership with local manufacturers and engineers over the past two years. This achievement has resulted in savings of over 1.586 trillion rials (approximately USD3.172 million), underscoring the company’s efforts to reduce reliance on imports and enhance its self-sufficiency in drilling operations.
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