North Drilling Company
North Drilling Company Public Joint Stock Company is a Tehran-listed Iranian oilfield-services contractor providing land and offshore drilling, rig operation, project management and well services. Operating across Iranian oil and gas fields, including the Caspian Sea and Persian Gulf, it is relevant to upstream buyers, equipment suppliers and investors assessing domestic drilling capacity and sanctions-sensitive counterparties.
Operations & footprint
Products and services
North Drilling Company provides onshore and offshore drilling services, rig operation, drilling project management, well services, technical support, offshore platform-related drilling activity, Caspian and Persian Gulf drilling operations, land-rig services, workover activity, and oilfield engineering services for upstream oil and gas clients in Iran.
Operations and assets
The operating base includes land and offshore drilling capability, rig operations and related well-intervention and technical services. Work spans fields in northern, central and southwestern Iran, including the Caspian Sea and Persian Gulf.
Geographic footprint
Iran: oil and gas fields in the north, centre and southwest, including the Caspian Sea and Persian Gulf. Headquarters: Tehran.
Ownership & group structure
Parent company
Sina Energy Holding, a subsidiary of the Mostazafan Foundation.
Commercial and investment relevance
North Drilling is relevant for investors assessing listed exposure to Iran's upstream oilfield-services market, drilling-rig utilization, contract risk, equipment import dependence, receivables from state-linked energy clients, and sanctions-sensitive procurement. It can support analysis of how field-development activity translates into revenue for service contractors. Due diligence should review updated Codal disclosures, TSE trading status, rig fleet condition, offshore and onshore contract mix, customer concentration, debt, FX exposure, equipment maintenance, ownership links, sanctions-screening status, insurance constraints, and dispute or payment history with oil-sector counterparties. North Drilling is a potential drilling and well-services counterparty for upstream project sponsors and oilfield suppliers. Its work requires rig equipment, maintenance, well-service inputs and technical support across both offshore and land operations.
Constraints, risk & compliance
Key risks and constraints
Performance is tied to drilling-contract execution, rig availability and maintenance, and the logistical demands of offshore and dispersed domestic field operations. Restricted access to specialised equipment and technical inputs can affect procurement and project delivery.
Sanctions and compliance considerations
North Drilling Company is listed under Belgian financial sanctions and Swiss SECO sanctions/embargoes, with listing dates of 8 and 12 December 2025 respectively. The company is identified as owned or controlled by the Islamic Revolution Mostazafan Foundation. Transactions require current legal and sanctions screening.
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Frequently asked questions
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What does North Drilling Company do?
North Drilling provides onshore and offshore drilling, rig operation, project management and well services for oil and gas projects in Iran.
Is North Drilling Company publicly listed?
Yes. North Drilling Company is a public joint stock company listed on the Tehran Stock Exchange under the symbol حفاری (Hafari) since May 2005.
Where does North Drilling operate?
Its operations cover Iranian oil and gas fields in the north, centre and southwest, including work associated with the Caspian Sea and Persian Gulf.
Does North Drilling Company require sanctions screening?
Yes. The company is listed under Belgian financial sanctions and Swiss SECO sanctions/embargoes, so any proposed transaction requires current legal and sanctions screening.