Iran ends US, UK monopoly in rig overhaul

TEHRAN, Dec. 15 (MNA) – Iranian experts have reached the new technologies for overhaul of offshore rigs in the Persian Gulf putting an end to the monopoly of US and UK companies.

“Despite cruel sanctions, Iran Ship Building and Offshore Industries Complex (ISOICO) has managed to repair drilling rigs making significant progress in this regard,” said Abbas Raeisi Managing Director of the Bahr Gostaresh Hormoz Company.

He went on to state that “until two years ago, only American and English companies possessed the knowledge so that Iranian rigs were transferred to UAE for overhaul.”

“By incorporation of the new technologies in ISOICO’s overhaul section, there will be a 30-percent reduction in rig repair costs compared to the price offered by companies based in the Arab countries of the Persian Gulf,” stressed the official.

Raeisi maintained that Bahr Gostaresh Hormoz Company (ISOICO’s subsidiary) has accomplished the overhaul of three drilling rigs over the past two years.

“ISOICO has recently been put in charge of repairing three other platforms as well,” underlined the official.

Conducting the overhaul in the country will reduce the costs as well as save time since the rigs can resume operation much faster without being transferred to the UAE.

 

HA/IRN81878352

 

News Code 112842

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