Jun 14, 2006, 5:43 PM

NIDC to purchase 12 new derricks

TEHRAN, June 14 (MNA) -- The National Iranian Drilling Company (NIDC) will purchase 12 land and offshore derricks at the cost of $600 million to satisfy part of the country’s needs in oil drilling sector, an NIDC’s board member announced here Wednesday.

Hedayatollah Khademi added Iran requires 20 land and 10 offshore rigs to fulfill its current oil projects, explaining that two of the units will go for sea operations and the rest will be involved in land exploration.

“The cost is $300m apiece for each sector. The NIDC aiming to promote its productivity is rebuilding eight of its 49 drilling derricks, out of which three are operational in southern waters,” he said.

Thirteen offshore oilrigs are now operating in the Persian Gulf, out of which ten are rental.

The average daily cost of each platform is $90,000 to $110,000 per day.

ML/KK

END

MNA

News ID 17344