Iran’s IOOC secures two agreements for advanced offshore drilling rigs to enhance oil and gas production. These rigs, equipped with cutting-edge technology, will be deployed in Iran’s offshore joint fields in the Persian Gulf. This move is expected to boost national oil and gas output significantly.

Official data shows Iran achieved a seven-year high in oil and gas production, with average crude oil production exceeding four million barrels per day in 2024. The National Iranian South Oil Company contributed nearly 75% of the total output, producing over 914mbbl of crude oil. Gas production also soared to 1.11 trillion cubic meters, with Pars Oil and Gas Company leading the way.

Read more at Yahoo Finance: Iran’s IOOC signs two agreements for offshore drilling rigs