Mohyeddin Jafari stated that no offshore exploration drilling had been conducted since 2019 due to rig shortages, but the signing of new contracts has now paved the way for these operations to restart.

Speaking at a ceremony on Saturday to sign a joint exploration cooperation agreement with the Iranian Offshore Oil Company and two rig supply contracts with North Drilling Company, Jafari noted that the NIOC exploration division’s scope of work spans the entire geographical area of the country.

He explained that past geological, geophysical, and drilling studies had primarily focused on onshore areas due to rig limitations.

Jafari highlighted that since the second development plan, the average number of rigs operated by the NIOC exploration division has been six per year. However, with the support of the NIOC CEO, this number is set to increase.

Currently, Sina Energy Holding supplies five onshore rigs and one offshore rig, covering 70% of the division’s onshore and offshore rig needs. Additionally, nearly 70% of the exploration drilling budget is allocated to this holding company.

Jafari also referenced the cooperation agreement with the Iranian Offshore Oil Company, emphasizing that joint exploration activities, including seismic surveys such as the Nasrat field project, will be conducted using existing infrastructure.

He added that the NIOC plans to leverage the capabilities of its subsidiary companies to expand exploration efforts, aiming to increase the number of exploration rigs to 12. This expansion is expected to double the speed of discovery in both offshore and onshore areas, reducing the time needed to identify new fields.

Jafari expressed hope that Sina Energy Holding, which is set to begin offshore exploration drilling in the Persian Gulf soon, will also contribute to geophysical activities.

He noted that the company’s financial, equipment, and human resources capabilities could lead to further successes in the sector.

The report added that the NIOC exploration division signed a joint exploration cooperation agreement with the Iranian Offshore Oil Company on Saturday.

The agreement, signed by Jafari and Ahmadreza Rasti, CEO of the Iranian Offshore Oil Company, aims to facilitate joint exploration activities, including drilling, seismic surveys, and geophysical studies.

Additionally, two offshore rig supply contracts and an addendum to increase the number of onshore rigs were signed between Jafari and Ruhollah Abdi, acting head of North Drilling Company.