According to Khabaronline, an Iranian news agency, Hamid Boord, CEO of NIOC, detailed the first agreement regarding the purchase of crude oil processing services. Under this contract, 11 rapid-deployment (skid-mounted) processing units will be installed at various domestic oil fields.
Timeline: Execution is estimated to take between 6 to 12 months.
Impact: These units are expected to play a vital role in boosting crude production from existing fields.
Private Sector Involvement: Boord highlighted the significance of private sector participation, noting that “small but targeted private investments alongside the NIOC have paved the way for production growth, project acceleration, and widespread job creation.”
Expansion of Onshore Drilling Capacity
The second contract focuses on the supply of onshore drilling rigs to expand the country’s extraction infrastructure.
Rig Count: The 5-year agreement will add 20 new drilling rigs to the fleet.
Deployment: Each rig is scheduled to be deployed within a 4 to 6-month window.
Target: Upon full implementation, the project will enable the drilling of 270 new wells.
Strategic Economic Impact
The NIOC chief emphasized that the combined impact of these measures will lead to a sustainable increase in the nation’s oil production capacity. Beyond the 135,000-barrel daily surge, the projects are slated to generate substantial employment, strengthening the overall productive power of Iran’s petroleum industry.
“These actions will strengthen the production capabilities of Iran’s oil industry and play a crucial role in stabilizing production capacity,” Boord concluded.
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