Iran to Modernize Oil Production Equipment
Makvandi underlined the need for high-efficiency use of available capital, he said the company’s non-productive time (NPT) dropped from about 20% last year to 8% through improved management and focus. The goal is to further reduce NPT to 3% this year.
He elaborated on the extensive plans to upgrade and rebuild the drilling fleet, noting that by late 2026, the modernization process will cover light, medium, heavy, and ultra-heavy rigs. Outdated rigs, such as the Shahid Rajaei and Modares, will be phased out and replaced with new rigs with 1,000 to 3,000 horsepower capacity.
Makvandi also announced $800 million investment from Iran’s oil revenues for 15 onshore rigs this year, with an additional $200 to $300 million from its funds for supporting equipment.
He also highlighted plans to drill 130 to 150 wells this year, stressing that this goal depends on collaboration with clients and focused investment. Human resources and equipment are key factors in improving drilling efficiency.
A senior official at the NIDC had said in 2022 that Iran's drilling operation in the Persian Gulf would be promoted in near future via operating three new offshore drilling rigs.
NIDC Managing Director Hamidreza Golpayegani announced that his company will be in near future one of the main operators in the Persian Gulf regarding drilling operation.
"NIDC is operating three drilling rigs, including Shahid Rajaee, Shahid Modares and a diagonal drilling rigs in the Persian Gulf," he said, adding, “Shahid Rajaee and Shahid Modares rigs will be replaced with the new modern rigs soon."
“Changing the structure and reforming the processes, rebuilding and modernizing drilling machines and technical service equipment, timely supply of goods and functional items, reforming the daily rig rate, manpower training and foresight in the issue of human resources are among the highlights that can be used in improving the agility and productivity of the company,” he further explained.
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