The Tehran Times reported recently that Iran's oil minister ordered the resumption of exploratory drilling in the shallow waters of the Caspian Sea, ending a 30-year pause.
Iran's Northern Drilling Company has deployed a drilling platform in the Rudsar structure in Block 18 of the Caspian Sea, at a water depth of 70 meters. The final depth of the exploratory well is planned to be 5,077 meters. Iran is seeking to diversify its production base and offset the impact of declining production from mature onshore oil fields. This renewed push for exploration and development is also in line with Iran's long-term strategy to strengthen energy security and promote exports after sanctions are lifted.
