Deal Reached With French-Based Drill Scan

The business unit at Dana Energy which is in charge of providing drill bits and downhole tools in the Iranian exploration and production market made a contract with French-based Drill Scan in November 2016.

The contract comes in line with a policy that the drill bits & downhole tools business unit has made in the post-sanctions era to expand its relations with global companies in a bid to develop its drilling services and to domestically manufacture drilling tools.

This business has already cooperated with Canadian, Russian, Chinese and French companies to provide services for upstream projects. The contract with Drill Scan, however, aims to provide the Iranian side with optimization software that company managers would increase efficiency of the services being offered in upstream projects in Iran.

The company’s drill bits unit is moving toward partnership with foreign companies. In the past, the unit mainly represented the foreign brands in Iran; however, it is now considering producing downhole completion products in cooperation with a Canadian-American partner, which has agreed to provide the Iranian side with required manufacturing technology.

Negotiations are also underway with a Chinese company to repair and manufacture drill bits in Iran, and with a Canadian company to produce DSD, liner hanger systems and packers in the country.

Some of the development projects of the drill bits unit are expected to become operational in less than one year, with steel body bits having the highest chance to be produced first. However, some of the manufacturing projects could take several years to complete.

Keivan Keikhanzadeh,
Executive Vice President
Drill Bits & Downhole Tools