Dependency on Foreign Parts, Equipment in Oil Industry Dropping: Iranian Official

Dependency on Foreign Parts, Equipment in Oil Industry Dropping: Iranian Official

TEHRAN (Tasnim) – The 80% dependency on foreign parts and equipment in Iran’s oil industry in the past has now reached between 20 and 30 percent, the deputy oil minister in technology and research engineering said, adding that the ministry has cooperated with competent knowledge-based companies.

Backing knowledge-based companies is the main policy of the current administration and the Ministry of Oil is following up the issue seriously, Vahid Reza Zeydifar said.

Speaking in a TV program with a focus on “Reviewing Performance of the Oil Ministry” ahead of Government Week, he said the 80-percent dependency of the oil industry on foreign equipment has reached about 20 to 30 percent.

He went on to say that the Oil Ministry has concluded about $340 million worth of contracts with competent knowledge-based companies in order to materialize its objectives in the field of manufacturing related parts in the relevant field.

The deputy oil minister stated that the Oil Ministry has concluded 81 contracts with different academic centers and research centers as well.

Elsewhere in his remarks, Zeydifar pointed to sending domestically-produced oil parts and equipment overseas and added that 2.7 million oil industry parts and equipment developed by the knowledge-based companies have been sent to Venezuela.

In addition, the ministry has exported catalyst to Venezuela, he said, adding that a working group has been set up at the Oil Ministry in the field of exporting technical and engineering services, according to which, $350 million worth of currency has been saved.

Source: Tasnim News