The Iranian Offshore Oil Company (IOOC) has reportedly entered into two agreements to acquire advanced offshore drilling rigs as part of efforts to boost production from oil and gas fields.
The agreements received approval from the Board of Directors of the National Iranian Oil Company (NIOC).
They were signed under the special authority of the Oil Ministry, according to a report by Iran's Azad News Agency (ANA), citing IOOC CEO Ahmadreza Rasti.
Rasti noted that technical and engineering preparations have begun for the deployment of 350ft and 400ft drilling rigs.
These rigs are equipped with the latest technology and align with global safety standards, he added.
They are set to be deployed in Iran's offshore joint oil and gas fields in the Persian Gulf, as per a comprehensive deployment strategy.
Rasti told the ANA: “This move will accelerate the development of joint oil and gas fields and significantly increase national oil and gas output."
“Securing these rigs and providing specialised drilling services in line with the highest safety and technology standards will pave the way for sustainable offshore production growth and help realise Iran’s urgent production increase programme at sea,” he added.
Meanwhile, the latest official data reveals that Iran has achieved a new seven-year high in oil and gas production. The country’s average crude oil production exceeded four million barrels (mbbl) per day in 2024, a level not reached in the past seven years, reported the Wana news agency.
This year, Iran's daily oil production increased by 247,000 barrels compared to the previous year, indicating a recovery in field capacity and enhanced production management by key national companies.
The National Iranian South Oil Company was a major contributor, responsible for nearly 75% of the total output, with more than 914mbbl of crude oil produced throughout the year.
In the gas sector, Iran’s total production soared to 1.11 trillion cubic metres, said to be equivalent to the yearly consumption of several medium-sized nations.
The Pars Oil and Gas Company led the way, producing 245.9 billion cubic metres.
