National Iranian Drilling Company launches localised jacking system

National Iranian Drilling Company launches localised jacking system
Published: 9 June 2019 - 6:45 a.m.
By: Carla Sertin
The National Iranian Drilling Company (NIDC) has launched the localised elevating system of jack up rigs for Shahid Modaress Marine Drilling Rig in Khark coastal waters.

According to the company, the system was launched on 22 May after technical and engineering studies, a first for the country.

"Launching the localised jacking system was aimed at ensuring self-sufficiency, and self-reliance in line with the resilient economy principles by relying on domestic capabilities, which shows that there is no limit to the development of the oil industry in Iran,” NIDC CEO Seyed Abdullah Mousavi said at the launch ceremony.

"Based on the calculations, the reconstruction of the Shahid Modarress drilling rig by foreign companies and contractors would cost €2mn [$2.27mn] while, by tapping domestic capabilities of NIDC, it was launched by IRR 15 billion [$450,000]," he added.

Mousavi further said that NIDC had so far drilled 656,600 meters of oil and gas wells in offshore fields which included 398 wells so far.

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