The possibility of foreign companies terminating their maritime drilling in Iran’s waters has terrified the mullahs’ regime.
Iran’s drilling sector in the sea has 25 oil platforms, with 70% owned by foreign companies. The pressure of countries sanctioning the mullahs on the owners of these oil platforms has led these companies to consider revoking their contracts with Iran. According to the regime’s own state-run media, the possible cancellation of foreign drilling companies’ contracts with Tehran has become the mullahs’ main concern.
This dilemma comes at a time when the mullahs’ oil production has plunged to record lows due to widespread European and US sanctions.