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NIDC to allocate $800m for purchasing drilling rigs
According to a decision made by the cabinet, NIDC has been excluded from the list of cession to the private sector which consequently has provided the opportunity for governmental investment in the company activities as the first chain of operations in the upstream sector, Iranian Oil Ministry’s official Shana news agency reported.
He went on to say that with regard to its experience, expertise, assets and fleet the company enjoys, NIDC is one of the most important operational companies not only in the region but in the world and that is why it is required to be supported.
According to NIOC director up to now, the NIDC has drilled more than 5,000 oil and gas wells in onshore and offshore sectors of the country along with extracting more than 70 billion barrels of crude oil and gas condensate as well as 5 trillion cubic meters of natural gas from oil and gas fields.