National Iranian Drilling Company (NIDC) is in negotiations with Chinese firms aiming to supply some of the equipment for their oil projects in Iraq, a report said.

Talks are also underway with European companies on collaboration in Iraq, Heidar Bahmani, managing director of NIDC, was quoted as saying in the Iran Daily report.

Negotiations are also being held with Kuwait on joint projects in Iraq, he added.

“We were not able to transfer drilling equipment to neighbouring countries during the sanction years while this issue has been fully resolved with the elimination of sanctions thus clearing the way for more our visible presence in Persian Gulf littoral states,” Bahmani was quoted in the report, which cited Mehr News Agency.

"Currently, an agreement is being sealed with Italians based on which the European side will undertake the investment while NIDC will carry out the drilling activities,” he revealed.

"Talks are also being held with Singaporean firms on implementing offshore projects with Singapore providing finance and Iran offering equipment and facilities."

The number of drilling rigs in Iran will reach 80 in the year to March 2017, he added.