News ID: 262942
Published: 0329 GMT December 14, 2019

Official: Iran capable of manufacturing 12,000 oil industry components

Official: Iran capable of manufacturing 12,000 oil industry components

Iranian experts have the know-how to manufacture 12,000 components and sophisticated equipment of the petroleum industry inside the country, CEO of a major state-run oil corporation said, unveiling plans for domestic production of 7,500 new industrial parts.

In an address to the opening of an oil exhibition in Ahvaz, CEO of the National Iranian South Oil Company (NISOC) Ahmad Mohammadi said some 12,000 components and sophisticated gear used in the petroleum industry were indigenized in Iran, reported Tasnim News Agency.

He said around 2,500 parts have been manufactured by Iranian startups, knowledge-based companies and science parks.

Mohammadi also noted that Iranian industrial centers and technology-based enterprises will soon receive a new order for production of around 7,500 components and commodities of the oil industry.

The official stated that a major plan to develop 28 reservoirs in the country will involve only Iranian contractors using homegrown technologies and tools. 

In his October comments, the head of Iran’s most profitable petrochemical plant said foreign sanctions on the country’s petrochemical industry have ended in complete failure.

In August, the ‘Supplying Petrochemical Industries Part Equipment and Chemical Engineering’ Company (SPEC) of Iran achieved the technical know-how to make special catalysts used for gasoline production, making Iran the world’s second producer of such advanced component and helping it earn as much as $60 billion a year in export revenue.

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