North Drilling

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North Drilling Company
Type Private company
Traded as TSE: HSHM1
ISIN: IRO1HSHM0008
Industry Oilfield services
Founded 1999[1]
Headquarters Tehran, Iran
Key people

Managing Director: Hedayatollah Khademi

Head of Board of Directors: Ezatollah Hejazi
Services Onshore and offshore drilling services[2]
Net income $100 million (2010)[3]
Website www.ndco.ir/ehome.aspx

North Drilling Company (Persian: حفاری شمال‎) is an Iranian company specialized in drilling oil and gas wells and its services in all regions of Iran and world, to global customers. The company was privatized in June 2009. As of February 2010, Mehr Eghtesad, a quasi-government investment company, owned 20% of its shares on the Tehran Stock Exchange.[4]

The company owned nine land rigs and three Jackup rigs during these years and is managing drilling operation in Persian Gulf, Caspian sea, Turkmenistan, and Kuzestan, Ilam, Khorasan, Bushehr and Fars provinces of Iran.

In 2009, SADRA launched a domestically built semi-floatable drilling rig for the Caspian Sea owned by NIOC (National Iranian Oil Company). The semi-submersible platform is able to operate at water depths up to 1,030 metres (3,380 ft) and can drill down to 6,000 metres (20,000 ft) under the seabed.[5] Iran-Alborz (from 2010 called Iran Amirkabir) is operated by Iran North Drilling Co.[6]

North Drilling Company and China Petroleum Technology Development Corporation (CPTDC) signed a $143 million contract to set up a drilling rig in the Persian Gulf by 2011.[7] Two of those drilling rigs were delivered to Iran in 2011 and 2012, named as SAHAR I and SAHAR II. Despite government policies for self-sufficiency, the North Drilling Company of Iran has scrapped a deal with domestic manufacturers in 2013 and has signed a contract with Chinese manufacturers to build 14 onshore and offshore drilling rigs worth $850 million.[8]

See also

References

  1. ↑ "Home". Ndco.ir. Retrieved 2010-03-05. 
  2. ↑ "North Drilling Company: Private Company Information - BusinessWeek". Investing.businessweek.com. Retrieved 2010-03-05. 
  3. ↑ http://www.turquoisepartners.com/iraninvestment/IIM-Dec10.pdf
  4. ↑ http://www.zawya.com/story.cfm/sidZAWYA20090722070508/North%20Drilling%20Company%20to%20go%20public
  5. ↑ "Caspian to see Iranian-produced drilling rig". Presstv.com. 2009-07-23. Retrieved 2010-03-05. 
  6. ↑ "Russian semi spuds well in Caspian off Iran - Oil & Gas Journal". Ogj.com. Retrieved 2010-03-05. 
  7. ↑ http://www.presstv.com/detail.aspx?id=120173&sectionid=351020103
  8. ↑ http://www.payvand.com/news/13/jun/1146.html

External links

Companies listed on the Tehran Stock Exchange
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