Iran, the World’s Second Largest Drilling Fleet Holder: Challenges and Opportunities
International statistics on the drilling industry indicate that the United States, with over 490 drilling rigs operating in oil and gas fields, possesses the largest drilling fleet in the world. Iran follows in second place with 117 rigs, while Canada ranks third with 100 rigs.
However, several challenges, including the aging drilling rigs, limited access to advanced technologies, and a shortage of equipment, have reduced the efficiency of Iran’s drilling fleet. These issues have resulted in the drilling time for an oil or gas well in Iran being at least twice the global standard average.
For example, the National Iranian Drilling Company, as the largest drilling fleet operator in the country, has faced issues such as mismanagement and declining efficiency in recent years. This has led to increased costs and reduced effectiveness in the oil industry.
In this regard, Hamid Bourd, CEO of the National Iranian Oil Company, has emphasized the need to modernize the drilling fleet, stating that the introduction of new drilling rigs by any company will be welcomed and lead to contract signings.
However, the main challenge does not seem to be merely a shortage of drilling rigs but rather inefficiencies in business models and low productivity in their usage. Solely focusing on increasing the number of rigs without improving drilling operations’ quality could further impact the efficiency of the oil industry.
