Mehr News Agency reported that Iran will start drilling its first exploratory well in the Caspian Sea by early October.

Mr Hedayatollah Khademi MD of North Drilling Company said that “Iran Alborz semi submersible drilling rig is now ready to drill the country’s first exploratory well in the region.”

Iran Alborz semi submersible drilling rig can operate at water depths up to 1,030 meters and drill down to 6,000 meters under the seabed.

The rig weighs 14,000 tonnes without its attachments and will facilitate exploration in deep waters in southern part of the Caspian Sea.

According to estimates, the southern part of the Caspian Sea holds at least 32 billion barrels of oil reserves.

(Sourced from Mehr News Agency)