Iran will Drill and Improve Iraqi Oil Wells

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Islamic Republic of Iran will mend and drill Iraqi oil wells in Basra and Zubayr regions.

A Memorandum of Understanding (MoU) was inked between National Iranian Drilling Company (NIDC) and Iraqi Osool Al Ayan Company with the aim of drilling and repairing oil wells in Iraq’s southern regions of Basra and Zubayr.

Deputy CEO of National Iranian Drilling company (NIDC) for International Cooperation and Marketing Department Karamali Naderi made the above remarks and said. “this MoU was signed with the aim of overhauling and repairing oil wells in Iraq.“

Since the National Iranian Drilling Company (NIDC) is mulling over technical proposals on the tenders held by Italy’s Eni company and Russia’s Lukoil Company in Iraq. it was stipulated that Drilling Co. (NIDC)`&gt.NIDC will take necessary measures to complete technical documents in cooperation with an Iraqi partner as joint venture.

Italy’s Eni Company is the winner of 39 oil wells in Iraqi Basra and Zubayr regions while Russia’s Lukoil Company is the winner of tender for repairing and overhauling four oil wells in Iraq.

Under the contract. National Iranian Drilling Company has vowed to conduct drilling operation while Iraqi company has undertaken the logistics affairs.