10 percent of global land rig demand belongs to Middle East and its land rig demand will grow up to 400 until 2025 thanks to Saudi Arabia.
Dayrates of NIDC as the biggest rig owner in Iran are determined by government so the rates remain low. Decrease in demand, 66% land rig utilization, inability to play role in local middle east market and Rial-based contract keep the dayrates low.
