Azerbaijan, Baku Aug. 26 / Trend, N. Umid /
Iran neglects producing drilling rigs domestically due to troubles the country has with foreign currency, initially started after international sanctions were imposed on Iran, head of the Board of Directors for the Society of Iran's Oil Industry Manufacturers, Reza Padidar said, ILNA news agency reported.
Iran's assets have been blocked abroad and administration cannot transfer currency to country, he said, adding that, officials prefer to import drilling rigs instead of producing them domestically.
According to Padidar, local Iranian drilling rigs builders do not favor such strategy.
He also underlined that agreement of producing 4 drilling rigs with power of 2000 hp has been signed between National Iranian Drilling Company and Rig Building Consortium.
"70 percent of rig building equipment is produced locally and by Society of Oil Industry Manufacturers' subsidiaries, while the rest is being imported from foreign countries," he said, adding that "the rigs would be ready within 2 years."
Some 90 million Euro needed for building the rigs, according to the agreement 54 million Euro of that worth should be paid in national currency and 36 million in Euro, he said.
Iran has previously been importing drilling rigs from China, and Iranian parliament has argued that buying the rigs from China will bankrupt domestic manufacturers.
In recent years, some 20 drilling rigs have been imported from China to Iran.
Early in July 2013, Iran's then Oil Minister Rostam Qasemi stated that, even if the prices of Iranian-made equipment are slightly higher, the contractors should purchase it, instead of foreign imported equipment.
Iran has started bartering oil with cargoes after the EU and U.S. banned the Central Bank of Iran.
According to Iranian former Deputy Minister of Industry, Mine, and Trade Hamid Safdel, Iran has also about $100 billion worth foreign reserves blocked aboard due to sanctions.
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