TEHRAN (PEDCO) -- In a bid to expand their collaborative efforts, PetroIran Development Company (PEDCo) and the National Iranian Drilling Company (NIDC) have signed a comprehensive agreement, showcasing their specialized capabilities, managerial expertise, and execution prowess.
The agreement was formalized during the 14th Khuzestan Oil and Gas Exhibition. Hamidreza Golpayegani, CEO of NIDC, and Mansour Mehrshad, the head of PetroIran, were signatories to this strategic collaboration.
The agreement outlines a joint venture for the provision of drilling services and ancillary services in fields covered by PetroIran, on a call-based and as-needed basis.
Services encompass cementing, balanced drilling, surface logging, formation testing, H2S detection, engineering services, well testing, acidizing, and well stimulation.
Mansour Mehrshad, the head of PetroIran, expressed the significance of this agreement, stating, "In the first two days of this exhibition, we signed three memorandums and one highly significant agreement today with the National Iranian Drilling Company, which surpasses the importance of the previous agreements.
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He further highlighted the ongoing utilization of NIDC’s services, especially in the areas of dry services and rig leasing.
"We have extensively utilized the services and facilities of the National Iranian Drilling Company in recent years, particularly in the realms of dry services and rig leasing," said Mehrshad.
According to this agreement, PetroIran is set to benefit from approximately 14 drilling services, significantly enhancing its capabilities in onshore drilling.
Mansour Mehrshad went on to explain the specifics, stating, "As per this agreement, we will utilize about 14 drilling services, which are highly crucial in onshore drilling.
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Moreover, PetroIran has requested an increased participation from the National Iranian Oil Company (NIOC) in its production enhancement program. Mehrshad emphasized the goal of securing a share of 100,000 barrels per day for PetroIran in the NIOC's production enhancement initiative.
Additionally, in the context of gas imbalance, PetroIran is gearing up for drilling operations in the South Pars region, initiating collaboration with the NIDC for offshore drilling in the Persian Gulf.
The collaboration between PetroIran and the NIDC marks a significant step forward in enhancing Iran's capabilities in the oil and gas sector.
The agreement is poised to foster mutual growth and strengthen the nation's position in the energy landscape.