Type Private company Net income $100 million (2010) Founded 1999 | Industry Oilfield services Headquarters Tehran, Iran | |
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Traded as TSE: HSHM1
ISIN: IRO1HSHM0008 Key people Managing Director:
Head of Board of Directors: Ezatollah Hejazi Services Onshore and offshore drilling services Parent organization National Iranian Oil Company | ||
North Drilling Company (Persian: حفاری شمال) is an Iranian company specialized in drilling oil and gas wells and its services in all regions of Iran and world, to global customers. The company was privatized in June 2009. As of February 2010, Mehr Eghtesad, a quasi-government investment company, owned 20% of its shares on the Tehran Stock Exchange.
The company owned nine land rigs and three Jackup rigs during these years and is managing drilling operation in Persian Gulf, Caspian sea, Turkmenistan, and Kuzestan, Ilam, Khorasan, Bushehr and Fars provinces of Iran.
In 2009, SADRA launched a domestically built semi-floatable drilling rig for the Caspian Sea owned by NIOC (National Iranian Oil Company). The semi-submersible platform is able to operate at water depths up to 1,030 metres (3,380 ft) and can drill down to 6,000 metres (20,000 ft) under the seabed. Iran-Alborz (from 2010 called Iran Amirkabir) is operated by Iran North Drilling Co.
North Drilling Company and China Petroleum Technology Development Corporation (CPTDC) signed a $143 million contract to set up a drilling rig in the Persian Gulf by 2011. Two of those drilling rigs were delivered to Iran in 2011 and 2012, named as SAHAR I and SAHAR II. Despite government policies for self-sufficiency, the North Drilling Company of Iran has scrapped a deal with domestic manufacturers in 2013 and has signed a contract with Chinese manufacturers to build 14 onshore and offshore drilling rigs worth $850 million.