Iran's NIDC Releases 5-Month Report
The National Iranian Drilling Company has drilled and repaired 51 onshore and offshore oil and gas wells since the beginning of the current fiscal in March, the company’s deputy managing director for drilling affairs said.
"With the help of 3 offshore and 69 onshore rigs, NIDC, a subsidiary of the National Iranian Oil Company, has drilled 51,000 meters of oil and gas wells nationwide," Mohammad Ale-Khamis was quoted as saying by ISNA.
Of the total, 27 were development and exploratory wells and 24 underwent repairs.
"The wells were drilled in oilfields managed by the National Iranian South Oil Company, the Iranian Offshore Oil Company and the Petroleum Engineering and Development Company in the West Karoun oil block that includes several large oilfields straddling the Iran-Iraq border, namely Yaran, Yadavaran and Darkhoein," he said.
NIDC undertakes both offshore and onshore drilling and provides almost the entire drilling services needed by domestic oil and gas companies.
According to Seyyed Saleh Hendi, head of the National Iranian Oil Company's Exploration Department, there are 184 hydrocarbon fields in Iran, consisting of 380 reserves, of which 171 are being developed and 209 have not been tapped.
"In-place crude and gas condensates reserves are estimated at 228 billion barrels, most of which were discovered in the last four decades," Hendi said.
Proven gas reserves are close to 33 trillion cubic meters, making Iran home to one of the world’s biggest natural gas reserves.
source: Financial Tribune
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Russia takes aim at US nuclear power by throttling uranium
BHP to spend up to $14 billion on Chilean copper expansion
Aluminum price to average 6% higher in 2024 on strong demand: Fitch
Trump chooses oil fracking boss as energy secretary
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project