TEHRAN – In a ceremony on Monday Iran unveiled a domestically manufactured Tricone drill bit, Shana reported.

In the ceremony, expressing satisfaction with this great achievement, Bijan Alipour, the managing director of National Iranian South Oil Company (NISOC), said the company has signed a deal worth 440 billion rials (about $11.8 million) with Khouzestan province’s Academic Center for Education, Culture and Research (ACECR) for the manufacturing of 874 bits.

“NISOC is going to need 1500 drill bits of which 700 will be polycrystalline diamond compact (PDC) and the rest are going to be grit hot-pressed inserts (GHI),” he said.

According to the official, near 80 percent of the oil industry’s equipment are being manufactured inside the country. He expressed hope that in the near future Iran will be completely self-sufficient in this area. 

In the unveiling ceremony Hamidreza Tayebi the head of ACECR, noted that there is a close cooperation between oil industry and ACECR in the country, saying “we hope for our cooperation to get more accelerated in the future,”

Ramin Qalambar Dezfouli, NIOC’s director for manufacturing and supplying logistics, also mentioned some of the strategic oil equipment including drill bits, wellhead equipment and sucker rod pumps (SRP) which Iran plans to manufacture inside the country.

CAP: Bijan Alipour (L), the managing director of National Iranian South Oil Company (NISOC), and Hamidreza Tayebi, the head of Iran’s Academic Center for Education, Culture and Research (ACECR), unveiling a domestic manufactured drill bit on Monday

EF/MA