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FINANCIAL NEWS
Oman, Iraq eye Iran to build new vital oil wells
22 Dec 2015
(MENAFN) Iran plans to use its long expertise in the oil industry and help both Iraq and Oman drill gas and oil wells, which will guarantee better business relations, based on recent reports.
The work will be mainly achieved by the National Iranian Drilling Company (NIDC) which has already drilled 9,000 kilometers of oil and gas wells in the 36 years since its establishment.
Additionally, the company’s first offshore drilling projects began in phases 9 and 10 of the supergiant South Pars Gas Field which Iran shares with Qatar in the Persian Gulf.
Basically, Iran plans to purchase new shares of oil and gas fields from overseas and to participate in oil and gas projects across the world, thus strengthening its position in the industry.
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