NIDC inks 5 deals for lending drilling rigs to local contractors

TEHRAN – National Iranian Drilling Company (NIDC), a subsidiary of the National Iranian Oil Company (NIOC), signed deals to lend 16 drilling rigs to five domestic companies that are working on development projects of the country’s oilfields, Shana reported.

According to Reza Dehqan, the National Iranian Oil Company’s deputy director for development and engineering affairs, the mentioned deals were signed with Global Petrotech Kish Company, Petro Iran Development Company, Pasargad Energy Development Company, Qeshm Oil and Energy Industries, and Petrotenco Company.

The drilling rigs will be used in the development projects of Zilaei, Mansourabad, Siahmakan, Ahvaz 1, and 4, as well as Maroun 5 and 12 oil fields, Dehqan said.

Back in August, Iranian Offshore Oil Company (IOOC) and the National Iranian South Oil Company (NISOC) signed 13 deals worth €1.527 billion with domestic companies to add 185,000 barrels per day to the country’s oil production capacity.

NISOC is the employer for 11 of the mentioned contracts, which will be implemented in the five provinces of Khuzestan, Fars, Kohgiluyeh-Boyer Ahmad, Bushehr, and Hormozgan, while the other two were signed by IOOC.

Accordingly, two contracts for the development of Zilaei as well as Chalingar and Garangan projects were signed with Global Petrotech Kish Company; Ramin project was awarded to Persia Oil and Gas Industry Development Company, while Mansourabad project was handed over to Petro Iran Development Company, the Siahmakan project to Pasargad Energy Development Company, Maroun 2, 5 and 6 projects to Petrotenco, Maroun 1 and 4 projects to North Drilling Company (Sina Energy Gostar Holding), Maroun 3 project to the Iranian Offshore Engineering and Construction Company (IOECC).

Balaroud project was signed jointly with the National Iranian Drilling Company and Jahanpars Engineering and Construction Company, Ahvaz 1, and 4 projects jointly with Qeshm Oil and Energy Industries and Maroun Karan.


Continue Reading

Sinopec becomes Saudi Aramco’s largest onshore drilling contractor

RIYADH — China Petroleum & Chemical Corporation (Sinopec), China’s leading energy and chemical company and now Saudi Aramco’s largest onshore drilling contractor, congratulated the Kingdom of Saudi Arabia on its 90th National Day and expresses support for the Saudi Vision 2030.

With firm commitment to responsibility, integrity, excellence, innovation and benefit for all parties, Sinopec’s business operations in Saudi Arabia mainly cover the exploration and development of oil and gas fields, oil field services, refining and chemical engineering services, international trade of crude oil, refined oil, petroleum and chemical equipment, as well as investments in refining and chemical projects and sales of chemical products, lubricants and catalysts.

The petrochemical trade makes up 50 percent of total bilateral trade volume between China and Saudi Arabia, contributing to the economic development of both countries as well as serving their respective societies. Sinopec established its Middle East Center for Research and Development in Saudi Arabia in 2016 to enhance cooperation and the exchange of resources, services and learning.

Sinopec has achieved positive cooperation with petroleum and chemical companies in Saudi Arabia. Including the establishment of the Sinopec SenMei (Fujian) Petroleum Company Limited with its Saudi counterparts, the largest refined oil supplier in China’s Fujian Province, as well as establishing Fujian Refining and Petrochemical Company Limited (FREP).

Sinopec, the first Chinese company to enter the Saudi Arabian oil field service market, regards localization as the key to its strategies and actively to fulfill social responsibilities.

The company seeks to provide the largest possible number of job opportunities for young people in Saudi Arabia. The Yanbu Aramco Sinopec Refining Company (YASREF) is one of the largest Chinese investment projects in Saudi Arabia with total investment amounts to $8.6 billion, and a joint venture that promoted bilateral cooperation between China and Saudi Arabia to a higher
Continue Reading