Iran invests $1 billion to purchase drilling rigs

According to Energy Press, Mehran Makondi said about the National Drilling Company’s plans for 1404: Focusing on increasing drilling efficiency and fleet modernization is one of the company’s priorities in the new year.
Stating that the capital available in the company should be used with high efficiency, he added: The non-productive times (NPT) of the National Drilling Company last year were about 20 percent, which was reduced to 8 percent by applying management and focusing on work, and the target for a further reduction of up to 3 percent this year continues.
Investment in equipment development
The CEO of the National Drilling Company announced extensive plans for the modernization and reconstruction of the drilling fleet and stated: By the end of 1405, the process of modernization of the drilling fleet will continue, including light, medium-heavy, heavy and super-heavy devices, while worn-out devices such as Shahid Rajaee and Modares will be retired and new replacements with a power of 1,000 to 3,000 horsepower will enter the fleet.