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EXALO Drilling SA enters in new markets in the Middle East

As part of the strategy an international expansion and the search for new sources of revenue for EXALO Drilling SA. Members of the EXALO Board traveled to Iran in order to obtain long-term business partners. The meeting in Tehran with the company Oil Industry Investment Corporation resulted in the signing of the Memorandum of Understanding.

Signed by the President OIIC Ali Sadeghi and the Vice President of EXALO Drilling SA Piotr Gliniak the MoU document relates to a drilling of 10 wells in Iran. According to the agreement EXALO will carried out drilling along with a full range of well completion services. The main areas of activity of Iran's Oil Industry Investment Company, storage and distribution of fuels, drilling services, construction of roads and maritime infrastructure, production equipment for the oil industry.

Iran is one of the most important new emerging markets for EXALO Drilling SA. The signed document MoU with the company Oil Industry Investment Corporation, is the first step to on the Iranian market and building a strong position EXALO Drilling SA for following years.