Economy & Markets

The contracts made between drilling clients (operators) and contractors are of great importance in decreasing drilling cost. Incentive contracts are one instance of contracts leading to drilling cost decrease.   Client-contractor relationships have a significant influence on the decrease of drilling cost. The contracts made between drilling clients (operators) and contractors are of great importance in decreasing drilling cost. Incentive ...

The Drilling industry is probably considered as the most important principle of oil and gas discovery and production. Without planning for the development of this key industry, the realization of oil and gas production goals will not be possible. Today, the significance of drilling in the oil industry has placed this industry as one of the ranking indices for countries ...

  OPEC data put Iran’s proven oil reserves at 157.7 billion barrels and its natural gas deposits at 34 trillion cubic meters (tcm). Iran’s oil production hovered around 3.1 million barrels a day (mb/d) in 2014, which officials say could reach 4 mb/d with a year after international sanctions are lifted on the country. Iran’s current oil and gas output capacities are estimated at 3.8 mb/d and 760 mcm/d ...