Iran’s target to increase oil production by 0.2 to 0.4 million barrels per day (bpd) to achieve a maximum level of 4.2 million bpd will put pressure on the country’s outdated equipment, according to Asmari, COO at Afraz Advisers. She says foreign companies, particularly those specialising in drilling equipment, but also advance tech like top drive systems, should be able to capitalise on the market gap via strategic partnerships with local companies.
Iran’s target to increase oil production by 0.2 to 0.4 million barrels per day (bpd) to achieve a maximum level of 4.2 million bpd will put pressure on the country’s outdated equipment, according to Hannah Lewendon, COO at Afraz Advisers. She says foreign companies, particularly those specialising in drilling equipment, but also advance tech like top drive systems, should be able to capitalise on the market gap via strategic partnerships with local companies.