In its recent explanations regarding the contracts for purchasing services for four offshore drilling rigs, Iran's Offshore Oil Company announced that the subject of the contracts is by no means the purchase of rigs, but rather the guaranteed purchase of services for these rigs under the contractual model of supply, ownership, and operation of public-private partnership (BOO).
Nature of the Contracts and Obligations of the Parties
The company emphasized that comparing the prices of these contracts with the purchase of several rigs, without considering the nature and contractual obligations of the parties, is inaccurate and unreliable. In this contractual model, the investor is responsible for providing the equipment, investment, and necessary infrastructure, while Iran's Offshore Oil Company receives its required services within the framework of the contractual obligations. The value of the contract is not merely equivalent to the purchase price of the rig and includes costs and obligations related to the provision of services over a 6-year period.
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Technical Specifications of the Rigs and Transparency in Contractor Selection
The rigs in question are 400-foot offshore drilling rigs with a low year of manufacture. These rigs can be evaluated in terms of technical specifications and price in the global market, and the claim that these rigs are unusable without providing technical documentation is incorrect. Furthermore, the selection of contracting companies has been conducted transparently and in accordance with the rules and regulations by the National Iranian Oil Company.
Iran's Offshore Oil Company further stated that the implementation of these contracts is one of the first experiences of utilizing the BOO model in financing and strengthening domestic companies in Iran's oil industry. The aim of this initiative is to leverage the investment capacities and operational capabilities of companies to meet the strategic needs of the oil industry and reduce limitations in the field of offshore drilling equipment.
Finally, Iran's Offshore Oil Company welcomes criticism and inquiries from the media and considers accountability as part of its responsibilities. However, the company expects criticisms to be based on accurate information and expert reviews so that, with the cooperation and commitment of all parties, the successful implementation of these contracts can pave the way for a serious transformation in the development and production of oil and gas in the country.
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