NIOC signs rig for exploration offshore Iran

National Iranian Oil Co. (NIOC) is aiming to resume offshore exploration drilling in maritime border areas with neighboring countries later this year.

The state-owned company has signed a contract for a rig, official Mohyeddin Jafari told news service Shana.

NIOC is aiming to bring in more rigs and deploy more modern geophysical equipment to speed up discovery rates, he added, with the support of Iran’s Oil Ministry.

"Success in these areas could double our discovery speed," Jafari added.

According to the April 5 Shana report, exploration offshore Iran was suspended in 2019 due to rig shortages.

It was in January that NIOC first stated its intentions to resume exploration drilling offshore Iran following a five-year pause. At the time, NIOC had just signed a joint exploration cooperation agreement with Iranian Offshore Oil Co. (IOOC) that aims to lead to joint exploration activities, such as drilling, seismic surveys and geophysical studies, including over the Nasrat field.

Also in the Persian Gulf, Petropars completed the installation of a platform jacket last month for the Belal gas field for operator NIOC.