TEHRAN- The managing director of the National Iranian Oil Company (NIOC) appointed Morteza Fouladi as the new managing director the National Iranian Drilling Company (NIDC).

As reported by the NIOC, the decree issued by NIOC Managing Director Hamid Bovard states:

"Given your commitment, expertise, and valuable capabilities, you are hereby appointed as the managing director of the National Iranian Drilling Company. Your key duties and responsibilities include:

* Planning and implementing necessary measures to increase drilling efficiency and reduce downtime.

* Taking necessary measures to train specialized and efficient human resources.

* Utilizing young managers and specialists to improve the company's performance indicators.

* Employing modern management methods to improve processes, streamline the company, and reduce project costs.

* Enhancing interaction with subsidiaries of the National Iranian Oil Company to improve the execution of drilling projects.

* Reviewing and proposing appropriate solutions for implementing corporate governance principles to develop and clarify management strategies in the company.

* Leveraging the capacity of knowledge-based companies, particularly universities, to employ modern drilling methods.

* Supporting domestic manufacturing and further enhancing domestic production in the country's drilling industry.

* Emphasizing HSE in accordance with documented procedures and passive defense requirements, particularly further improving the safety factor of drilling rigs while considering relevant international standards.

* Developing and proposing necessary strategies within the framework of resistance economy policies.

It is hoped that, with reliance on Almighty God and the cooperation of the company's valued managers and employees, you will succeed in carrying out your assigned missions."

MA