Petropars Signs Letter of Understanding (LoU) with the National Drilling Company
Upon signing of a Letter of Understanding (LoU) between Petropars and the National Drilling Company, the stage is set for joint and mutual cooperation of the two companies in connection with execution of oil and gas projects.
According to a report released by the Public Relations and International Affairs Department of Petropars Group, the Letter of Understanding (LoU) which was signed on Ordibehesht 15, 1399 by Engineer Masoudi, Managing Director of Petropars, and Engineer Mousavi, Managing Director of the National Drilling Company, is intended to pave the ground for mutual cooperation by the two companies in implementation of future oil and gas projects.
It should be noted that Petropars, as a the most-qualified and accredited Exploration and Production (E & P) company, and in view of the fact that it has so far managed to execute frequent oil, gas and petrochemical projects, has acquired a high capability to utilize services to be rendered by Iranian contractors for the promotion of domestic capabilities and competence of Iranian contractors.
With regard to the fact that the National Drilling Company has at its disposal some 75 onshore and offshore drilling rigs, it has the greatest number of machinery and equipment required for drilling operations and hence is fully capable to extend drilling services to Iranian oil companies.