A worn-out drilling industry has become a bane of Iran’s oil production growth

According to an exclusive report by Energy Press, increasing daily production by 400,000 barrels of oil was one of Mohsen Paknejad’s promises on his first day as minister, a promise that seems unattainable. On the one hand, Iran’s oil fields have reached the second half of their lifespan and need renovation, and on the other hand, the drilling equipment is worn out and dates back to the 1970s.
It may be interesting to know that while the country’s drilling industry is worn out and suffers from a lack of equipment, many parts are languishing in foreign warehouses due to sanctions.