Number of “pioneer” projects in oil industry rises 78%

TEHRAN – The number of pioneer or first-time production projects of the oil industry, sent to the Vice Presidency for Science and Technology by knowledge-based companies in a period of 12 months (up to September 23), has registered an increase of 78 percent compared to the previous year’s same period.

As Shana reported, first-time or pioneer production projects include any projects aimed at the production of strategic goods and services not manufactured domestically, so far.

Based on Oil Ministry data, the ministry sent 50 first-time production plans to the secretariat of the Vice Presidency for Science and Technology in the mentioned 12 months, while the number was 33 in the corresponding period last year.

As reported, among the four major axes of the country’s oil industry, the National Iranian Oil Company (NIOC) had the highest number of proposed projects in the period under review submitting 29 production plans followed by the National Iranian Gas Company (NIGC) with 21.

According to the government program for supporting knowledge-based companies and pioneer projects, if a knowledge-based company can produce a strategic product domestically for the first time, it will be exempted from paying tax and the law on holding tenders.

Also, if a proposed project for first-time production reaches the contract stage, low-interest facilities will be provided for the company and the Supreme National Security Council guarantees the purchase of the produced goods.

It is worth mentioning that Iran’s oil industry is the country’s top industry in pursuing pioneer projects so that 60 percent of such projects are related to various areas of the mentioned industry.


Source: Tehran Times