News ID: 152049
Published: 0819 GMT May 25, 2016

Iran, Russia to cooperate in constructing offshore rigs

Iran, Russia to cooperate in constructing offshore rigs

An Iranian industrial company will, for the first time, build five offshore drilling rigs in cooperation with a Russian firm.

The drilling rigs are worth $200 million each and their major parts will be built in Russia and transferred to Iran for assembly in the Persian Gulf, informed sources said on Wednesday, Fars News Agency wrote.
Earlier this month, the managing director of the National Iranian Drilling Company (NIDC) underlined that negotiations are underway with domestic and foreign investors from Asia and Europe to purchase offshore rigs worth $200 million.
"The number of drilling rigs will increase to 80 in the year starting mid-March 2017," said Heidar Bahmani, adding that the NIDC currently owns 75 rigs.
Bahmani added that despite of the sanctions, NIDC managed to meet 90 percent of its target for the year to March 19.
 
   
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Resource: Fars News Agency
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